Litigation Lawyers in Sanford
In Sanford, North Carolina, commercial litigation is any legal conflict that involves some type of business transaction. Commercial litigation can be between two businesses, a business and an individual, or two individuals. It typically comes up when everyone involved least expects it, and it can arise from just about any matter.
In Sanford, North Carolina commercial litigation can be very intricate and costly. While it normally involves two business in a legal dispute with one another, it might also arise between ordinary individuals who were engaged in an informal business transaction (such as someone selling a car to her neighbor), and never would have guessed that they might be thrown into a commercial litigation case in Sanford, North Carolina.
Common Sources of Commercial Litigation in Sanford, North Carolina
Commercial Leases: Despite the rise of the Internet, and e-commerce, most businesses in Sanford, North Carolina still need a physical location to operate. This space is typically rented from another party, under terms laid out in a commercial lease. These leases can lead to disputes, if one party breaks them, such as by failing to pay rent on time, failure to provide access to the property under the agreed-upon terms, etc.
Sales of Real Estate: Whether you're buying a house, an office building, or a vacant lot in Sanford, North Carolina, there are plenty of things that can go awry in the process. For example, 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 certain to cause a dispute, and if the parties cannot resolve it amongst themselves, commercial litigation might be the only option.
Sale of Goods: It's far more prevalent for individuals to buy personal property, rather than real estate, in Sanford, 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 example, 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 conflict. In some cases, these disputes lead to commercial litigation.
Business Loans: When someone starts a small business in Sanford, North Carolina, they typically don't have the money to fund its start-up and first few years of operation. So, the first 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 conflict.
Breach of Contract: In Sanford, North Carolina, contract law is simple in principle: when someone agrees to exchange value for value (a product in exchange for money, for example), 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 arrangement, 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 conflict is likely, which might lead to commercial litigation.
How Can a Sanford, North Carolina Commercial Litigation Lawyer Help?
If you have a business in Sanford, North Carolina, it should by now be apparent that there are various 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.
And the best thing you can do on that front is to take steps to minimize the chances of disputes leading to commercial litigation in the first place. Commercial lawyers in Sanford, North Carolina can be very advantageous with that. By advising you of your legal rights and obligations, your attorney can help you avoid making the mistakes that lead to legal disputes in the first place.