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Ivenika [448]
2 years ago
15

In June 1985, Joseph Marcantuone and Robert Gieson purchased property located in East Orange, New Jersey. At the time of purchas

e, the property was partly occupied and leased to Carriage Trade Cleaners, a dry cleaning establishment. A number of dry cleaners continuously operated on this site since 1930. Marcantuone and Gieson owned and operated a grocery store on another section of the property. They have never personally owned or operated a dry cleaning establishment on the property. JRM, LLC, and Sang Hak Shin were tenants on the property and the last operators of the dry cleaning establishment that utilized the hazardous substance tetrachloroethylene, or perchloroethylene (PCE), during the time Marcantuone and Gieson owned the property. The city of East Orange acquired the property through condemnation for the purpose of building a school on the property. But, the PCE was discovered on the property and out of the $629,407 given to Marcantuone and Gieson as compensation for the taking, the city held back $182,035.20 for the cost of the PCE clean-up. It cost the city a total of $212,000 to complete the clean-up of the property. ​
1. Who is liable for the remaining amount due for the clean-up?
a. Marcantuone and Gieson
b. Lessees of the dry-cleaning establishment
c. Previous owners of the property
d. all of the above
Business
1 answer:
sattari [20]2 years ago
6 0

Answer:

The answer would be All of the above.

Explanation:

All the above mentioned parties are related with discharge of the chemical and are liable to get the clean up done. Marcantuone and Gieson are liable as they are the owners, Lessees of the dry cleaning establishment are liable as they are the ones who operated on the effected land and Previous owners under whose ownership the lessees had taken the land on lease for a dry cleaning property.

All the parties are liable for the clean up as well as the damage occured post the clean up as well as per the law.

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2 years ago
Which of these transactions would produce $10,000 of revenue in December? (check all that apply) BOC Realty leases space to a te
Luba_88 [7]

Answer:

From the given question, the following transactions would produce $10,000 of revenue in December which are:

BOC Realty leases space to a tenant for December and the tenant pays the $10,000 rent in cash in December = YES

BOC Realty leases space to a tenant for December and sends a bill for the $10,000 rent to be paid in January =YES

BOC Realty leases space to a tenant for December and January. the tenant pre-paid the $20,000 rent for the two months in November=YES and BOC Bank is owed $10,000 of interest on a loan for December and receives the payment in January =YES

Explanation:

Solution

Given that:

Now,

From the question stated it says that which of these transactions would produce $10,000 of revenue in December,

Thus,

BOC Realty leases space to a tenant for December and the tenant pays the $10,000 rent in cash in December = YES

BOC Realty leases space to a tenant for December and sends a bill for the $10,000 rent to be paid in January =YES

BOC Bank is owed $10,000 of interest on a loan for December and receives the payment in January =YES

BOC Bank receives a check for $10,000 in December for November's interest amount =NO

BOC Realty leases space to a tenant for December and January. the tenant pre-paid the $20,000 rent for the two months in November=YES

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