Litigation Lawyers in Fort Lee
In Fort Lee, 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 Fort Lee, New Jersey commercial litigation can be very perplexing and costly. While it typically 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 Fort Lee, New Jersey.
Common Sources of Commercial Litigation in Fort Lee, New Jersey
Commercial Leases: In Fort Lee, 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 generally the result.
Sales of Real Estate: Whether you're buying a house, an office building, or a vacant lot in Fort Lee, 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: It's far more common for individuals to buy personal property, rather than real estate, in Fort Lee, 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 instance, 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 disagreements lead to commercial litigation.
Business Loans: In Fort Lee, New Jersey, it's typical for new businesses to require a loan from a bank to get started. This can, sometimes, lead to disputes between the borrower and lender. For instance, 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 an individual or business in Fort Lee, New Jersey, agrees to exchange something of value for something else of value (such as a product in exchange for money), they have entered into a binding agreement called a "contract." This means that each party can use the law to compel the other party to execute their commitments under the terms of the contract. If someone fails to perform under the agreement, commercial litigation is one avenue to resolve the resulting dispute.
How Can a Fort Lee, New Jersey Commercial Litigation Lawyer Help?
If you have a business in Fort Lee, New Jersey, it should by now be obvious that there are many 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.
A Fort Lee, New Jersey commercial litigation attorney can help you on that front. A reputable 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.