Litigation Lawyers in Haddam
In Haddam, Connecticut, commercial litigation is any civil litigation that includes a business transaction. Commercial litigation can come up in essentially any business context.
Commercial litigation in Haddam, Connecticut, can get quite expensive, very quickly. Furthermore, it can also be incredibly confusing. It often involves two sophisticated business entities, but it can also arise between two ordinary individuals who never would have imagined that they'd get caught up in commercial litigation in Haddam, Connecticut.
Common Sources of Commercial Litigation in Haddam, Connecticut
Commercial Leases: In Haddam, Connecticut, the vast majority of small businesses need some physical location from which to operate. Most of the time, business owners rent this space from a third party, and have a written agreement laying out these rental terms. This contract is called a "commercial lease." These contracts are sometimes breached by one, or both, of the parties involved. When this happens, commercial litigation is usually the result.
Sales of Real Estate: Whether you're buying a house, an office building, or a vacant lot in Haddam, Connecticut, there are plenty of things that can go awry in the process. For example, the seller might fail to disclose an easement on the property, or a physical defect, which you only discover after the sale is final. Or, if you're the seller, the buyer might fail to pay on time. Such mishaps are almost certain to cause a dispute, and if the parties cannot resolve it amongst themselves, commercial litigation might be the only option.
Sale of Goods: It's far more prevalent for individuals to buy personal property, rather than real estate, in Haddam, Connecticut. 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 example, 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 conflict. In some cases, these disputes lead to commercial litigation.
Business Loans: When someone starts a small business in Haddam, Connecticut, they typically don't have the money to fund its start-up and first few years of operation. So, the first step is often getting a loan from a bank. However, if the business fails, and the borrower can't make payments, or the lender engages in some type of unlawful conduct, the aggrieved party is going to seek redress. In some cases, the parties will have to resort to civil litigation to resolve their conflict.
Breach of Contract: In Haddam, Connecticut, contract law is simple in principle: when someone agrees to exchange value for value (a product in exchange for money, for example), they have entered into a contract, which is a legally-binding agreement. A contract requires at least two parties, and if either of them fails to do what is required of them under the arrangement, they are said to be in "breach" of the contract. If they do not remedy the situation, or the other party does not waive the requirement, a conflict is likely, which might lead to commercial litigation.
How Can a Haddam, Connecticut Commercial Litigation Lawyer Help?
If you run a business in Haddam, Connecticut, it should be clear by now that commercial litigation can arise in many different cases, possibly when you least expect it. For that reason, it's a good idea to have plans in place to deal with commercial litigation concerns, should they come up.
And the best thing you can do on that front is to take steps to minimize the chances of disputes leading to commercial litigation in the first place. Commercial lawyers in Haddam, Connecticut can be very advantageous with that. By advising you of your legal rights and obligations, your attorney can help you avoid making the mistakes that lead to legal disputes in the first place.