Question: Please analyze the following problem. Be sure to state your reasoning. Owner enters into a contract to sell a rural apartment building to Buyer. The
Please analyze the following problem. Be sure to state your reasoning.
Owner enters into a contract to sell a rural apartment building to Buyer. The building is not on a sewer line; rather, it uses a septic tank buried on the property. Every unit in the building is rented and Buyer expects to receive all the rental payments but shortly after the parties enter into the contract the local health department conducts an inspection, finds that the septic tank has been leaking for years, and condemns the property. All the tenants have to move out and Buyer cannot rent to new tenants. Can Buyer get out of the contract?
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