In some way or another, we’ve all gotten stuck taking the blame for someone else’s mistake. One company found out the hard way that being in that position can cost hundreds of thousands of dollars.
Wilder Corp. maintained a cattle operation on 6,600 acres of land in Fulton County, Ill. In 2000, the company sold the property to the Nature Conservancy, an environmental organization, for $16.35 million. The Nature Conservancy planned on transforming the land into a nature preserve.
Environmental law experts say Wilder may have limited the damages it had to pay to the Nature Conservancy if it had worded its sales contract differently.