Litigation Lawyers in Greenwood
In Greenwood, Arkansas, commercial litigation is any civil litigation that involves a business transaction. Commercial litigation can come up in basically any business context.
In Greenwood, Arkansas commercial litigation can be very perplexing and costly. While it typically involves two business in a legal dispute with one another, it might also arise between average individuals who were engaged in an informal business transaction (such as someone selling a car to her neighbor), and never would have guessed that they might be thrown into a commercial litigation case in Greenwood, Arkansas.
Common Sources of Commercial Litigation in Greenwood, Arkansas
Commercial Leases: Even though more businesses than ever are relying on the internet to sell their goods, the majority of small businesses in Greenwood, Arkansas still have to operate from a physical location. The space from which most businesses operate is usually rented, and the terms of the rental agreement are documented in a contract called a commercial lease. These contracts, like any other, are sometimes breached. When, for example, the tenant fails to pay rent on time, or the landlord fails to perform required building maintenance, a dispute might arise, leading to commercial litigation.
Sales of Real Estate: Buying office space, a home, or an empty plot of land in Greenwood, Arkansas is not a simple process, and something can go wrong at any step along the way. For example, there might be a title defect, or some type of physical flaw on the property, and the seller fails to disclose it to the buyer, this will almost definitely lead to the buyer demanding payment, in the form of a full or partial refund, from the seller. If no agreement can be reached, commercial litigation is the possible result.
Sale of Goods: It's far more common for individuals to buy personal property, rather than real estate, in Greenwood, Arkansas. And, like any transaction, the sale of goods can lead to civil litigation if one of the parties feels that the other did not perform under the agreed-upon terms. For instance, if a buyer fails to pay the agreed price for the goods, or the seller delivers a late, defective, or incomplete order, there is going to be a dispute. In some cases, these disagreements lead to commercial litigation.
Business Loans: Frequently, when a business gets started in Greenwood, Arkansas, it has to take out a loan from a financial institution. If the business fails to make timely payments on the loan, it's possible that litigation will result.
Breach of Contract: When a business or individual in Greenwood, Arkansas promises another entity to provide a product or service in exchange for something of value (almost always, but not necessarily, money), they have entered a legally-binding agreement called a "contract." Both parties are now obligated to perform their commitments, as laid out in the agreement, and if one party fails to do so, the other can use commercial litigation to seek redress for any losses suffered as a result of this breach.
How Can a Greenwood, Arkansas Commercial Litigation Lawyer Help?
Business owners in Greenwood, Arkansas are probably aware of the fact that commercial litigation can always be just around the corner, and just about any business deal that goes bad can trigger it. It's prudent, therefore, to take some simple steps to prepare for possibly civil litigation, so it will only be minimally disruptive to your business, should it occur in the future.
On that front, the single best thing you can do is, by far, to seek the advice of an experienced Greenwood, Arkansas commercial litigation attorney. Your lawyer can advise you on practical steps you can take to minimize the chances of business litigation occurring in the first place, and give you the best possible chance of success if commercial litigation is unavoidable.