Litigation Lawyers in Princeton
Commercial Litigation in Princeton, Indiana is civil litigation that arises out of a business transaction, or some other dispute between two businesses, or between a business and a customer. It can appear out of nowhere, and arise out of almost any business situation.
Commercial litigation in Princeton, Indiana is often very perplexing 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 Princeton, Indiana commercial litigation.
Common Sources of Commercial Litigation in Princeton, Indiana
Commercial Leases: In Princeton, Indiana, the vast majority of small businesses need some physical location from which to operate. Most of the time, business owners rent this space from a third party, and have a written agreement laying out these rental terms. This contract is called a "commercial lease." These contracts are occasionally breached by one, or both, of the parties involved. When this occurs, commercial litigation is typically the result.
Sales of Real Estate: When buying real estate in Princeton, Indiana, a lot of things can go wrong, possibly making commercial litigation imperative. 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 Princeton, Indiana, 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 Princeton, Indiana, 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 an individual or business in Princeton, Indiana, agrees to exchange something of value for something else of value (such as a product in exchange for money), they have entered into a binding agreement called a "contract." This means that each party can use the law to compel the other party to execute their commitments under the terms of the contract. If someone fails to perform under the agreement, commercial litigation is one avenue to resolve the resulting dispute.
How Can a Princeton, Indiana Commercial Litigation Lawyer Help?
If you are operating a business in Princeton, Indiana, 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.
A commercial litigation attorney in Princeton, Indiana can be very helpful in that regard. Your lawyer can advise you of your legal commitments, as well as your legal rights. Knowing what is required of you, and the individuals you deal with in a commercial context, is the best thing you can do to avoid commercial litigation, and to succeed in a dispute, should one occur.