Merging with or acquiring a small business often means taking possession of the business' real estate, and sometimes this means the new owner is stuck with a lease or outright ownership of a building that doesn't suit its needs. It may seek to renovate, or demolish and rebuild a structure in order to make it more practical for its business.
It's always a good idea to get a business agreement down on paper, but sometimes, for one reason or another, it doesn't happen. Most businesspeople in Colorado are familiar with the so-called handshake deal, and other types of contracts that are not necessarily in writing. Many of these agreements meet the basic requirements of a contract (offer, acceptance, consideration, competency, intent) and so will be legally enforceable. However, a law known as the Statute of Frauds requires that certain types of contracts must be in writing, or else they are not legally enforceable.
With the summertime comes a flock of food trucks on the streets of many other American cities, and especially in and around Denver. Just a decade ago, food trucks appeared to be no more than a trendy update to the lunch wagons and taco trucks of old. Now they represent a $2 billion industry.