As Louisiana business owners may know, if they are subject to a breach of contract, it could have financial consequences. A contract dispute was recently taken to court in Louisiana by the owners of two barge boats against renters of the barge boats. The owners of the barge boats have accused the renters of failing to pay invoices and with breach of contract. The company that was renting the two barge boats to the other company at the rate of $1,000 per boat, per day, brought the claim against the renters for breach of contract and negligence.
This blog recently discussed key steps to starting a business in Louisiana to help set it up for success. Regardless of the success of the business, there may come a time when the owner may wish to sell the business. When a business owner contemplates the sale of a business, they may have a number of important questions they need answered before selling what they have built. One question may be how to properly value their business to sell.
Starting a new business in Louisiana can be a complicated process. To help navigate the process of starting a business, it can help to have knowledge of some of the basics such as why many start-up businesses fail and ways to proceed through the process without reinventing the wheel. It is important to keep an open mind throughout the process and gain as much knowledge as possible.
Because such a great number of business relationships in Louisiana are governed by contracts, a breach of contract can be a significant disruption for a business that may result in financial losses for the non-breaching party or business. At times, the circumstances surrounding a contract dispute can be complicated for either the party or business accused of a contract breach or the party or business responding to a breach of contract accusation.
A shopping center in Baton Rouge was recently purchased by two dentists for $3 million. A Baton Rouge realty company made up of two husband-and-wife dentists purchased the shopping center from a New York company. The shipping center encompasses 11.2 acres and has a number of tenants, including grocery, hardware and others. The couple's realty company notes it maintains a portfolio of greater than 600,000 square feet of office and retail space.