Litigation Lawyers in West Lafayette
Commercial Litigation in West Lafayette, Indiana 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 West Lafayette, Indiana 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 West Lafayette, Indiana commercial litigation.
Common Sources of Commercial Litigation in West Lafayette, Indiana
Commercial Leases: In West Lafayette, 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 generally the result.
Sales of Real Estate: If you're buying a house, office space, or a plot of land in West Lafayette, Indiana, 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 really 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 disagreements that such problems are likely to create.
Sale of Goods: It's far more frequent for individuals to buy personal property, rather than real estate, in West Lafayette, Indiana. And, like any transaction, the sale of goods can lead to civil litigation if one of the parties feels that the other did not perform under the agreed-upon terms. For instance, if a buyer fails to pay the agreed price for the goods, or the seller delivers a late, defective, or incomplete order, there is going to be a disagreement. In some cases, these disagreements lead to commercial litigation.
Business Loans: When a business is started up in West Lafayette, Indiana, one of the initial steps is normally to take out a loan from a bank. However, this is a intricate 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: When a business or individual in West Lafayette, Indiana promises another entity to provide a product or service in exchange for something of value (almost always, but not necessarily, money), they have entered a legally-binding agreement called a "contract." Both parties are now obligated to perform their commitments, as laid out in the agreement, and if one party fails to do so, the other can use commercial litigation to seek redress for any losses suffered as a result of this breach.
How Can a West Lafayette, Indiana Commercial Litigation Lawyer Help?
If you run a business in West Lafayette, Indiana, it should be clear by now that commercial litigation can arise in many different instances, possibly when you least expect it. For that reason, it's a good idea to have plans in place to deal with commercial litigation contentions, should they come up.
A commercial litigation attorney in West Lafayette, Indiana can be very valuable 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.