Business transactions, such as the sale or acquisition of a business, can be complex and demand a strong understanding of the laws related to business transactions.
An upscale gated townhome community across from the Country Club of Louisiana in Baton Rouge has been recently acquired by a company connected to the St. James Place retirement community. The upscale development, Country Club Place, was purchased for an undisclosed amount. The president of the purchasing company noted that the purpose of the acquisition was to further the mission of the nonprofit organization he represents to serve others. Plans for the maximum 28-lot development are being evaluated; townhomes in the community sell for upwards of $1 million. The president noted that any additions are planned to enhance the community.
The sale or acquisition of any business or development inherently brings many important considerations. Business transactions in general may present many questions for parties on both sides of the deal. Those approaching the sale of a business will want to carefully approach all phases of the transaction and understand the legal implications of the transaction. Because conflicts can arise in business transactions, it is important that those entering the sale of a business understand the process and legal protections available.
In negotiating the deal or drafting a purchase agreement, ensuring legal requirements are met can help alleviate problems down the road. Disputes, however, related to the purchase or sale of a business, company, land or property can always arise. Because of this, it is important to understand legal options and remedies in the event a dispute develops.
A trained business and commercial real estate attorney can advise a party entering a purchase or sale transaction of potential pit falls and how to remedy those dangers beforehand. Should concerns lead to a dispute, a business attorney with a strong understanding of the laws related to business transactions can advocate on behalf of the aggrieved client to achieve the most positive outcome possible.
Source: The Advocate, “St. James Place owners acquire gated community,” Dec. 26, 2013