Many people and businesses rely on contracts to commemorate agreements that both people and businesses live by and conduct themselves according to. Once there is a valid contract, parties to a contract may wonder what constitutes breach of contract and what happens when a contract has been breached?
Growth opportunities can be exciting, yet also complex at times, which is why understanding the process of buying a company can be important. A bank that began in Baton Rouge recently went public; the initial public offering grossed $46 million and included the issuance of 3.3 million shares. The bank began as a single branch and now has 11 locations in southern Louisiana; the company plans to open two more branches over the next two years. The corporate strategy that the company is employing moving forward is to grow in existing markets, but also to grow through the acquisition of small banks.
A contract is essentially an agreement between parties that creates obligations to do, or not do, certain things and is legally enforceable. For a contract to be valid, and enforceable, several elements must be properly met. In the simplest sense, contracts are agreements that "create obligations enforceable by law." A valid contract begins with a mutual agreement between two parties. The parties demonstrate their mutual assent to agreement through offer and acceptance and a meeting of the minds.
Business litigation is a concern for any party entering a complex business transaction which is why understanding the details of the transaction can be important. An aviation company, Landmark Aviation, recently completed its acquisition of local Ross Aviation. Ross Aviation is the owner of the Louisiana Aircraft fixed base operation which is located at the Baton Rouge metro airport. Landmark is already a fixed base operator in two airports in two other Louisiana cities. Landmark s based in a nearby state and Louisiana Aircraft acquired was acquired by Ross in 2013. The acquisition price for Landmark in this transaction was $330 million.