Reference no: EM133936498

Question

In 2015, Zachary purchased 60 acres of land adjacent to interstate 70 in St. Charles County from Lindenwood Properties. Zachary bought the land with the intent to develop a residential subdivision. Lindenwood Properties owned the acreage for about 10 years, and had purchased the land from Jeremiah Boaz, who inherited the property from his father, Ezra, in 1972. When Zachary began to have the property graded in preparation for beginning to build the subdivision, Workers uncovered numerous barrels had been buried on the property. Zachary then learned for the first time that a munitions factory had operated on a portion of the property during the 1940s, and the barrels contained hazardous-waste from the manufacturing process. Many of the barrels were not sealed and the contents had leaked into the ground. Because of the contamination, Zachary was required to have environmental remediation performed on the property before he could begin building homes. The estimated cost of the remediation was $2 million. Upon learning of the cost of the estimate, Zachary sought to rescind the sales agreement for the 60 acres claiming misrepresentation and or fraud. Discuss Zachary's rights given the facts presented.