Litigation Lawyers in Troy
Commercial Litigation in Troy, 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 Troy, 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 Troy, Illinois commercial litigation.
Common Sources of Commercial Litigation in Troy, Illinois
Commercial Leases: Even though more businesses than ever are relying on the internet to sell their goods, the majority of small businesses in Troy, Illinois still have to operate from a physical location. The space from which most businesses operate is normally 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 disagreement might arise, leading to commercial litigation.
Sales of Real Estate: When buying real estate in Troy, 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: The sale of personal property can also lead to commercial litigation in Troy, Illinois. This most frequently 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. Usually, if the parties cannot resolve the problem between themselves, commercial litigation will result.
Business Loans: In Troy, 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 Troy, Illinois business agrees to provide something of value (a product or service) in exchange for something else of value (normally money), a contract is formed. A contract, put simply, is any agreement that the law will enforce. Contracts can be very simple, or incredibly complicated. In either case, if one party fails to perform under the terms of the contract, commercial litigation is one way to resolve the ensuing dispute.
How Can a Troy, Illinois Commercial Litigation Lawyer Help?
If you are operating a business in Troy, 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.
On that front, the single best thing you can do is, by far, to seek the advice of an accomplished Troy, 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.