Litigation Lawyers in Forest Park
In Forest Park, Illinois, commercial litigation is any civil litigation that includes a business transaction. Commercial litigation can come up in virtually any business context.
In Forest Park, Illinois, you should expect any form of commercial litigation to be expensive and confusing. While large and sophisticated companies are well-equipped to deal with civil litigation, and are often the ones facing it, civil litigation in Forest Park, 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 Forest Park, Illinois
Commercial Leases: Even though more businesses than ever are relying on the internet to sell their goods, the majority of small businesses in Forest Park, Illinois still have to operate from a physical location. The space from which most businesses operate is typically 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 conflict might arise, leading to commercial litigation.
Sales of Real Estate: If you're buying a house, office space, or a plot of land in Forest Park, Illinois, you're probably aware of the fact that something can go wrong at any stage of the process. Whether the seller's title is defective (they don't directly have the ownership interest that they claim to be conveying to you), or there's a physical defect on the property that wasn't disclosed, commercial litigation might be the only option to resolve the disputes that such problems are likely to create.
Sale of Goods: The sale of personal property can also lead to commercial litigation in Forest Park, Illinois. This most often comes up when a business is buying large volumes of products from a supplier, and the supplier fails to deliver them on time, or delivers the wrong goods, or the wrong quantity of goods. Normally, if the parties cannot resolve the problem between themselves, commercial litigation will result.
Business Loans: When a business is started up in Forest Park, Illinois, one of the first steps is typically to take out a loan from a bank. However, this is a confusing 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: In Forest Park, Illinois, 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 Forest Park, Illinois Commercial Litigation Lawyer Help?
If you run a business in Forest Park, Illinois, 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.
A commercial litigation attorney in Forest Park, Illinois can be very advantageous in that regard. Your lawyer can advise you of your legal obligations, as well as your legal rights. Knowing what is required of you, and the people you deal with in a commercial context, is the best thing you can do to avoid commercial litigation, and to prevail in a dispute, should one occur.