Litigation Lawyers in Bloomington
In Bloomington, Illinois, commercial litigation is any civil litigation that involves a business transaction. Commercial litigation can come up in practically any business context.
In Bloomington, Illinois, you should expect any form of commercial litigation to be expensive and perplexing. While large and sophisticated companies are well-equipped to deal with civil litigation, and are usually the ones facing it, civil litigation in Bloomington, Illinois can also arise between those who are not nearly as accustomed to handling it, such as individuals and small businesses.
Common Sources of Commercial Litigation in Bloomington, Illinois
Commercial Leases: Even though more businesses than ever are relying on the internet to sell their goods, the majority of small businesses in Bloomington, Illinois 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: When buying a house or a plot of land in Bloomington, Illinois, there are various things that can go wrong, which can lead to commercial litigation. Whether there is a defect in the seller's title, a physical defect on the property that the seller did not disclose, or the buyer fails to make timely payment, a dispute, which might lead to commercial litigation, is possible.
Sale of Goods: In Bloomington, Illinois, 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: In Bloomington, Illinois, it's typical for new businesses to require a loan from a bank to get started. This can, sometimes, lead to disputes between the borrower and lender. For instance, the borrower might habitually fail to make payments on time. This will lead to the lender trying to collect, and possibly resorting to commercial litigation.
Breach of Contract: When a Bloomington, Illinois 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 Bloomington, Illinois Commercial Litigation Lawyer Help?
If you are operating a business in Bloomington, Illinois, 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 Bloomington, Illinois 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.