Litigation Lawyers in East Hanover
In East Hanover, New Jersey, commercial litigation is any legal dispute that involves some type of business transaction. Commercial litigation can be between two businesses, a business and an individual, or two individuals. It usually comes up when everyone involved least expects it, and it can arise from just about any situation.
In East Hanover, New Jersey commercial litigation can be very complicated and costly. While it typically 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 East Hanover, New Jersey.
Common Sources of Commercial Litigation in East Hanover, New Jersey
Commercial Leases: In East Hanover, 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 sometimes breached by one, or both, of the parties involved. When this happens, commercial litigation is usually the result.
Sales of Real Estate: Whether you're buying a house, an office building, or a vacant lot in East Hanover, New Jersey, 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 common for individuals to buy personal property, rather than real estate, in East Hanover, New Jersey. 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 dispute. In some cases, these disputes lead to commercial litigation.
Business Loans: Typically, when a business gets started in East Hanover, New Jersey, 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 East Hanover, New Jersey, 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 agreement, 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 dispute is likely, which might lead to commercial litigation.
How Can a East Hanover, New Jersey Commercial Litigation Lawyer Help?
If you are operating a business in East Hanover, New Jersey, it's probably pretty clear that commercial litigation can arise from almost any business deal, and that a dispute leading to litigation rarely comes at a convenient moment. So, it's essential to be prepared for any reasonably likely commercial litigation scenario.
The best thing you can do on that front is retaining a qualified East Hanover, New Jersey commercial litigation attorney. Your attorney can provide you with advice and information that, if followed, will help you avoid litigation in the first place. And, if litigation becomes unavoidable, a good lawyer can give you the best possible chance of obtaining a favorable result in court.