Litigation Lawyers in Grafton
In Grafton, North Dakota, 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 Grafton, North Dakota commercial litigation can be very confusing and costly. While it normally involves two business in a legal dispute with one another, it might also arise between average 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 Grafton, North Dakota.
Common Sources of Commercial Litigation in Grafton, North Dakota
Commercial Leases: Despite the rise of the Internet, and e-commerce, most businesses in Grafton, North Dakota 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 disagreements, 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: Buying office space, a home, or an empty plot of land in Grafton, North Dakota is not a simple process, and something can go wrong at any step along the way. For example, there might be a title defect, or some type of physical flaw on the property, and the seller fails to disclose it to the buyer, this will almost definitely lead to the buyer demanding payment, in the form of a full or partial refund, from the seller. If no agreement can be reached, commercial litigation is the possible result.
Sale of Goods: Buying and selling personal property is far more typical than buying and selling real estate in Grafton, North Dakota. Consequently, it's also more common for commercial litigation to arise out of disagreements 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 fairly rare cases, they have to resort to commercial litigation when a negotiated settlement is unrealistic.
Business Loans: Frequently, when a business gets started in Grafton, North Dakota, it has to take out a loan from a financial institution. If the business fails to make timely payments on the loan, it's possible that litigation will result.
Breach of Contract: In Grafton, North Dakota, 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 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 Grafton, North Dakota Commercial Litigation Lawyer Help?
If you have a business in Grafton, North Dakota, 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 disagreements leading to commercial litigation in the first place. Commercial lawyers in Grafton, North Dakota 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 disagreements in the first place.