Litigation Lawyers in Cortland
In Cortland, Illinois, commercial litigation is any civil litigation that involves a business transaction. Commercial litigation can come up in virtually any business context.
In Cortland, Illinois, you should expect any form of commercial litigation to be expensive and complex. While large and sophisticated companies are well-equipped to deal with civil litigation, and are often the ones facing it, civil litigation in Cortland, 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 Cortland, Illinois
Commercial Leases: Even though more businesses than ever are relying on the internet to sell their goods, the majority of small businesses in Cortland, 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 instance, 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 real estate in Cortland, Illinois, a lot of things can go wrong, possibly making commercial litigation necessary. In these cases, things like title defects (when the seller doesn't actually own the land or house that they're selling), physical defects in the property that weren't disclosed to the buyer, or a buyer's failure to tender payment on time, among other things, can all lead to commercial litigation.
Sale of Goods: In Cortland, 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 example, 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: When a business is started up in Cortland, Illinois, one of the first steps is usually to take out a loan from a bank. However, this is a complex process, and there are many things that can go wrong. If the borrower fails to make the required payments, or the lender attempts to defraud the buyer, civil litigation is a strong possibility.
Breach of Contract: Whenever a business in Cortland, Illinois agrees to provide a product or service in exchange for something of value (usually money), a legally-binding agreement, called a "contract," is formed. If either party fails to perform their end of the bargain, they have breached the contract, and commercial litigation is a possible way to settle the dispute.
How Can a Cortland, Illinois Commercial Litigation Lawyer Help?
If you are operating a business in Cortland, Illinois, it's probably 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 critical 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 Cortland, 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 winning if commercial litigation is unavoidable.