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FEIGHNER v. SAUTER

259 N.J. Super. 583 (1992)

614 A.2d 1071

GEORGE C. FEIGHNER, RONALD V. MANGRAVITE, ALLAN R. ANDERSON AND ROBERT V. VOGEL, A GENERAL PARTNERSHIP TRADING AS MANER CO., PLAINTIFFS-APPELLANTS, v. ANTON SAUTER AND EDITH SAUTER, HIS WIFE, DEFENDANTS-RESPONDENTS.

Superior Court of New Jersey, Appellate Division.

Decided October 22, 1992.

Attorney(s) appearing for the Case

William T. Smith argued the cause for appellants (Hook, Torack & Smith, attorneys; Mr. Smith on the brief).

Samuel D. Bornstein argued the cause for respondents.

Before Judges COLEMAN, J.H., ARNOLD M. STEIN and CONLEY.

The opinion of the court was delivered by COLEMAN, J.H., P.J.A.D.

This appeal raises two important issues: (1) whether the sellers of industrial realty encumbered by the Environmental Cleanup Responsibility Act, N.J.S.A. 13:1K-6 to 13, (ECRA), may unilaterally rescind a contract of sale when the owner's cleanup obligation has been capped at less than 9% of the selling price, and (2) whether the signing of a contract of sale is a "sale or transfer" which triggers...

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