Litigation Lawyers in Frankfort
Commercial Litigation in Frankfort, Kentucky 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 Frankfort, Kentucky, can get very expensive, very quickly. Furthermore, it can also be incredibly perplexing. It often involves two sophisticated business entities, but it can also arise between two ordinary individuals who never would have imagined that they'd get caught up in commercial litigation in Frankfort, Kentucky.
Common Sources of Commercial Litigation in Frankfort, Kentucky
Commercial Leases: Even though more businesses than ever are relying on the internet to sell their goods, the majority of small businesses in Frankfort, Kentucky still have to operate from a physical location. The space from which most businesses operate is usually 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 dispute might arise, leading to commercial litigation.
Sales of Real Estate: When buying a house or a plot of land in Frankfort, Kentucky, there are various things that can go wrong, which can lead to commercial litigation. Whether there is a defect in the seller's title, a physical defect on the property that the seller did not disclose, or the buyer fails to make timely payment, a dispute, which might lead to commercial litigation, is possible.
Sale of Goods: It's far more common for individuals to buy personal property, rather than real estate, in Frankfort, Kentucky. 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 dispute. In some cases, these disagreements lead to commercial litigation.
Business Loans: When a business is started up in Frankfort, Kentucky, one of the initial steps is usually to take out a loan from a bank. However, this is a perplexing 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 Frankfort, Kentucky 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 Frankfort, Kentucky Commercial Litigation Lawyer Help?
If you run a business in Frankfort, Kentucky, it should be clear by now that commercial litigation can arise in many different situations, possibly when you least expect it. For that reason, it's a good idea to have plans in place to deal with commercial litigation issues, should they come up.
On that front, the single best thing you can do is, by far, to seek the advice of an experienced Frankfort, Kentucky 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.