Litigation Lawyers in Hillsborough
In Hillsborough, 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 Hillsborough, North Carolina is often very intricate 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 Hillsborough, North Carolina commercial litigation.
Common Sources of Commercial Litigation in Hillsborough, North Carolina
Commercial Leases: In Hillsborough, 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 occasionally breached by one, or both, of the parties involved. When this occurs, commercial litigation is typically the result.
Sales of Real Estate: Whether you're buying a house, an office building, or a vacant lot in Hillsborough, North Carolina, there are plenty of things that can go awry in the process. For instance, the seller might fail to disclose an easement on the property, or a physical defect, which you only discover after the sale is final. Or, if you're the seller, the buyer might fail to pay on time. Such mishaps are almost sure to cause a dispute, and if the parties cannot resolve it amongst themselves, commercial litigation might be the only choice.
Sale of Goods: It's far more frequent for individuals to buy personal property, rather than real estate, in Hillsborough, North Carolina. 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 disagreement. In some cases, these disagreements lead to commercial litigation.
Business Loans: When someone starts a small business in Hillsborough, North Carolina, they normally don't have the money to fund its start-up and first few years of operation. So, the initial step is often getting a loan from a bank. However, if the business fails, and the borrower can't make payments, or the lender engages in some type of unlawful conduct, the aggrieved party is going to seek redress. In some cases, the parties will have to resort to civil litigation to resolve their disagreement.
Breach of Contract: In Hillsborough, North Carolina, 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 contract, 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 disagreement is likely, which might lead to commercial litigation.
How Can a Hillsborough, North Carolina Commercial Litigation Lawyer Help?
Business owners in Hillsborough, 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 occur in the future.
And the best thing you can do on that front is to take steps to minimize the chances of disagreements leading to commercial litigation in the first place. Commercial lawyers in Hillsborough, North Carolina can be very valuable with that. By advising you of your legal rights and obligations, your attorney can help you avoid making the mistakes that lead to legal disagreements in the first place.