Litigation Lawyers in North Stonington
In North Stonington, Connecticut, commercial litigation is any civil litigation that involves a business transaction. Commercial litigation can come up in basically any business context.
Commercial litigation in North Stonington, Connecticut, can get very expensive, very quickly. Furthermore, it can also be incredibly perplexing. 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 North Stonington, Connecticut.
Common Sources of Commercial Litigation in North Stonington, Connecticut
Commercial Leases: In North Stonington, 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 occasionally breached by one, or both, of the parties involved. When this occurs, commercial litigation is generally the result.
Sales of Real Estate: Whether you're buying a house, an office building, or a vacant lot in North Stonington, Connecticut, there are plenty of things that can go awry in the process. For instance, 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 sure to cause a dispute, and if the parties cannot resolve it amongst themselves, commercial litigation might be the only choice.
Sale of Goods: In North Stonington, Connecticut, the sale and purchase of personal property is also a common source of commercial litigation. Just like any business transaction, things can go wrong in the sale of goods. For instance, the seller might deliver the wrong goods to the buyer, or deliver them late. Likewise, the buyer might fail to pay for the goods at the agreed time. Most of the time, business people are able to resolve these disputes without resorting to commercial litigation. In rare cases, however, they have to take their dispute to court, and settle it that way.
Business Loans: Frequently, when a business gets started in North Stonington, Connecticut, 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 North Stonington, Connecticut business agrees to provide something of value (a product or service) in exchange for something else of value (usually money), a contract is formed. A contract, put simply, is any agreement that the law will enforce. Contracts can be very simple, or incredibly complex. In either case, if one party fails to perform under the terms of the contract, commercial litigation is one way to resolve the ensuing disagreement.
How Can a North Stonington, Connecticut Commercial Litigation Lawyer Help?
If you are operating a business in North Stonington, Connecticut, it's likely pretty clear that commercial litigation can arise from almost any business deal, and that a dispute leading to litigation rarely comes at a convenient moment. So, it's essential to be prepared for any reasonably likely commercial litigation scenario.
On that front, the single best thing you can do is, by far, to seek the advice of an experienced North Stonington, Connecticut 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.