Litigation Lawyers in Florence
In Florence, New Jersey, 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.
In Florence, New Jersey commercial litigation can be very convoluted and costly. While it usually 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 Florence, New Jersey.
Common Sources of Commercial Litigation in Florence, New Jersey
Commercial Leases: In Florence, 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 often the result.
Sales of Real Estate: Whether you're buying a house, an office building, or a vacant lot in Florence, 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 frequent for individuals to buy personal property, rather than real estate, in Florence, 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 disagreement. In some cases, these disputes lead to commercial litigation.
Business Loans: In Florence, New Jersey, it's common for new businesses to require a loan from a bank to get started. This can, occasionally, lead to disputes between the borrower and lender. For example, the borrower might habitually fail to make payments on time. This will lead to the lender trying to collect, and possibly resorting to commercial litigation.
Breach of Contract: When a business or individual in Florence, New Jersey promises another entity to provide a product or service in exchange for something of value (almost always, but not necessarily, money), they have entered a legally-binding agreement called a "contract." Both parties are now required to perform their obligations, as laid out in the agreement, and if one party fails to do so, the other can use commercial litigation to seek redress for any losses suffered as a result of this breach.
How Can a Florence, New Jersey Commercial Litigation Lawyer Help?
If you run a business in Florence, New Jersey, it should be clear by now that commercial litigation can arise in many different instances, possibly when you least expect it. For that reason, it's a good idea to have plans in place to deal with commercial litigation contentions, should they come up.
On that front, the single best thing you can do is, by far, to seek the advice of an accomplished Florence, New Jersey commercial litigation attorney. Your lawyer can advise you on practical steps you can take to minimize the chances of business litigation occurring in the first place, and give you the best possible chance of winning if commercial litigation is unavoidable.