Litigation Lawyers in Edenton
In Edenton, North Carolina, commercial litigation is any legal disagreement that involves some type of business transaction. Commercial litigation can be between two businesses, a business and an individual, or two individuals. It normally comes up when everyone involved least expects it, and it can arise from just about any issue.
Commercial litigation in Edenton, North Carolina is often very difficult 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 Edenton, North Carolina commercial litigation.
Common Sources of Commercial Litigation in Edenton, North Carolina
Commercial Leases: In Edenton, 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 often the result.
Sales of Real Estate: If you're buying a house, office space, or a plot of land in Edenton, North Carolina, 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 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 Edenton, North Carolina. Thus, 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 impractical.
Business Loans: In Edenton, 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: When an Edenton, North Carolina business agrees to provide something of value (a product or service) in exchange for something else of value (normally money), a contract is formed. A contract, put simply, is any agreement that the law will enforce. Contracts can be very simple, or incredibly complicated. In either case, if one party fails to perform under the terms of the contract, commercial litigation is one way to resolve the ensuing dispute.
How Can a Edenton, North Carolina Commercial Litigation Lawyer Help?
Business owners in Edenton, North Carolina are probably aware of the fact that commercial litigation can always be just around the corner, and just about any business deal that goes bad can trigger it. It's wise, therefore, to take some simple steps to prepare for possibly civil litigation, so it will only be minimally disruptive to your business, should it happen in the future.
An Edenton, North Carolina commercial litigation attorney can help you on that front. A brilliant attorney can advise you of your legal rights and obligations, to avoid litigation in the first place, and can provide you with the best possible chance of prevailing if commercial litigation does arise.