Litigation Lawyers in Lakemoor
Commercial Litigation in Lakemoor, Illinois is civil litigation that arises out of a business transaction, or some other disagreement between two businesses, or between a business and a customer. It can appear out of nowhere, and arise out of almost any business issue.
Commercial litigation in Lakemoor, Illinois is often very intricate and expensive, and while it often involves two businesses in a legal dispute, it can also come up between ordinary individuals, who never thought they'd get involved in Lakemoor, Illinois commercial litigation.
Common Sources of Commercial Litigation in Lakemoor, Illinois
Commercial Leases: Most businesses in Lakemoor, Illinois operate from a single physical location, despite the rise of the Internet and e-commerce. These locations are often in rented space, which is normally more cost-effective than purchasing real estate just for the purpose of operating a business. These rental contracts are laid out in documents called "commercial leases." Like every other contract, these leases are occasionally broken. If the parties cannot resolve the ensuing dispute amongst themselves, they might have to resort to commercial litigation.
Sales of Real Estate: When buying real estate in Lakemoor, Illinois, a lot of things can go wrong, possibly making commercial litigation crucial. In these cases, things like title defects (when the seller doesn't really 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: Buying and selling personal property is far more typical than buying and selling real estate in Lakemoor, Illinois. Thus, it's also more common for commercial litigation to arise out of disagreements concerning the sale or purchase of goods, as opposed to land. Some common problems that can come up in the sale of goods are a seller's failure to deliver the right product on time, or the buyer failing to pay the price that they agreed on. Most of the time, reasonable, professional people can settle these disagreements amongst themselves. However, in fairly rare cases, they have to resort to commercial litigation when a negotiated settlement is impractical.
Business Loans: Frequently, when a business gets started in Lakemoor, Illinois, 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: In Lakemoor, Illinois, contract law is simple in principle: when someone agrees to exchange value for value (a product in exchange for money, for instance), 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 contract, 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 disagreement is likely, which might lead to commercial litigation.
How Can a Lakemoor, Illinois Commercial Litigation Lawyer Help?
If you are operating a business in Lakemoor, 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 proper moment. So, it's critical to be prepared for any reasonably likely commercial litigation scenario.
A Lakemoor, Illinois commercial litigation attorney can help you on that front. A seasoned attorney can advise you of your legal options and commitments, to avoid litigation in the first place, and can provide you with the best possible chance of prevailing if commercial litigation does arise.