Litigation Lawyers in Houghton
Commercial Litigation in Houghton, Michigan 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.
In Houghton, Michigan, litigation is complicated and expensive. While it can come up between sophisticated companies, it can just as easilyy involve people who would never guess that they'd one day be involved in a commercial litigation dispute in Houghton, Michigan. It can arise from the most informal business transactions, such as a homeowner selling a piece of furniture to his neighbor.
Common Sources of Commercial Litigation in Houghton, Michigan
Commercial Leases: In Houghton, Michigan, 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 sometimes breached by one, or both, of the parties involved. When this happens, commercial litigation is often the result.
Sales of Real Estate: If you're buying a house, office space, or a plot of land in Houghton, Michigan, 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 actually 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 disputes that such problems are likely to create.
Sale of Goods: Buying and selling personal property is far more common than buying and selling real estate in Houghton, Michigan. Therefore, it's also more common for commercial litigation to arise out of disputes 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 relatively rare cases, they have to resort to commercial litigation when a negotiated settlement is impossible.
Business Loans: Often, when a business gets started in Houghton, Michigan, 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: When a business or individual in Houghton, Michigan 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 required to perform their obligations, 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 Houghton, Michigan Commercial Litigation Lawyer Help?
If you have a business in Houghton, Michigan, it should by now be obvious that there are many different situations from which commercial litigation can arise, and it rarely happens when it's expected. So, it's always smart to have a plan in place (and money or insurance set aside, if possible) to resolve a commercial litigation issue, should it arise.
On that front, the single best thing you can do is, by far, to seek the advice of an experienced Houghton, Michigan 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 winning if commercial litigation is unavoidable.