Litigation Lawyers in Boonton
In Boonton, New Jersey, 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 Boonton, New Jersey 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 Boonton, New Jersey.
Common Sources of Commercial Litigation in Boonton, New Jersey
Commercial Leases: In Boonton, New Jersey, 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 Boonton, New Jersey, 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: The sale of personal property can also lead to commercial litigation in Boonton, New Jersey. This most usually comes up when a business is buying large volumes of products from a supplier, and the supplier fails to deliver them on time, or delivers the wrong goods, or the wrong quantity of goods. Normally, if the parties cannot resolve the problem between themselves, commercial litigation will result.
Business Loans: Starting a business in Boonton, New Jersey, or anywhere else, is costly. Typically, when somebody starts a business, they have to take out a loan from a bank. However, if the lender engages in some type of improper activity (such as trying to collect payment in a manner not permitted in the loan agreement), or the borrower doesn't make the payments on time, commercial litigation is likely to result.
Breach of Contract: In Boonton, New Jersey, 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 Boonton, New Jersey Commercial Litigation Lawyer Help?
Business owners in Boonton, New Jersey 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 advisable, 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.
A Boonton, New Jersey commercial litigation attorney can help you on that front. A reliable attorney can advise you of your legal options and commitments, to avoid litigation in the first place, and can provide you with the best possible chance of prevailing if commercial litigation does arise.