Litigation Lawyers in New Albany
In New Albany, Mississippi, commercial litigation is any legal dispute that involves some type of business transaction. Commercial litigation can be between two businesses, a business and an individual, or two individuals. It usually comes up when everyone involved least expects it, and it can arise from just about any situation.
Commercial litigation in New Albany, Mississippi 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 New Albany, Mississippi commercial litigation.
Common Sources of Commercial Litigation in New Albany, Mississippi
Commercial Leases: Even though more businesses than ever are relying on the internet to sell their goods, the majority of small businesses in New Albany, Mississippi 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: If you're buying a house, office space, or a plot of land in New Albany, Mississippi, 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 disagreements that such problems are likely to create.
Sale of Goods: The sale of personal property can also lead to commercial litigation in New Albany, Mississippi. 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. Typically, if the parties cannot resolve the problem between themselves, commercial litigation will result.
Business Loans: Starting a business in New Albany, Mississippi, or anywhere else, is costly. Usually, when somebody starts a business, they have to take out a loan from a bank. However, if the lender engages in some type of improper activity (such as trying to collect payment in a manner not allowed in the loan agreement), or the borrower doesn't make the payments on time, commercial litigation is likely to result.
Breach of Contract: In New Albany, Mississippi, contract law is simple in principle: when someone agrees to exchange value for value (a product in exchange for money, for instance), they have entered into a contract, which is a legally-binding agreement. A contract requires at least two parties, and if either of them fails to do what is required of them under the agreement, they are said to be in "breach" of the contract. If they do not remedy the situation, or the other party does not waive the requirement, a dispute is likely, which might lead to commercial litigation.
How Can a New Albany, Mississippi Commercial Litigation Lawyer Help?
If you are operating a business in New Albany, Mississippi, 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 important to be prepared for any reasonably likely commercial litigation scenario.
A commercial litigation attorney in New Albany, Mississippi 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.