Litigation Lawyers in Asheboro
In Asheboro, North Carolina, 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 Asheboro, North Carolina is often very complex 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 Asheboro, North Carolina commercial litigation.
Common Sources of Commercial Litigation in Asheboro, North Carolina
Commercial Leases: In Asheboro, North Carolina, 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 usually the result.
Sales of Real Estate: When buying real estate in Asheboro, North Carolina, a lot of things can go wrong, possibly making commercial litigation essential. 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: Buying and selling personal property is far more common than buying and selling real estate in Asheboro, North Carolina. 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: In Asheboro, North Carolina, it's common for new businesses to require a loan from a bank to get started. This can, occasionally, lead to disputes between the borrower and lender. For example, 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: Whenever a business in Asheboro, North Carolina agrees to provide a product or service in exchange for something of value (usually money), a legally-binding agreement, called a "contract," is formed. If either party fails to perform their end of the bargain, they have breached the contract, and commercial litigation is a possible way to settle the dispute.
How Can a Asheboro, North Carolina Commercial Litigation Lawyer Help?
If you are operating a business in Asheboro, North Carolina, it's probably 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 crucial to be prepared for any reasonably likely commercial litigation scenario.
On that front, the single best thing you can do is, by far, to seek the advice of an experienced Asheboro, North Carolina 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.