Litigation Lawyers in Midland Park
In Midland Park, 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 Midland Park, New Jersey, litigation is difficult and expensive. While it can come up between sophisticated companies, it can just as quicklyy involve individuals who would never guess that they'd one day be involved in a commercial litigation dispute in Midland Park, New Jersey. It can arise from the most informal business transactions, such as a homeowner selling a piece of furniture to his neighbor.
Common Sources of Commercial Litigation in Midland Park, New Jersey
Commercial Leases: Despite the rise of the Internet, and e-commerce, most businesses in Midland Park, New Jersey still need a physical location to operate. This space is normally 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: When buying real estate in Midland Park, New Jersey, a lot of things can go wrong, possibly making commercial litigation imperative. In these cases, things like title defects (when the seller doesn't really own the land or house that they're selling), physical defects in the property that weren't disclosed to the buyer, or a buyer's failure to tender payment on time, among other things, can all lead to commercial litigation.
Sale of Goods: Buying and selling personal property is far more typical than buying and selling real estate in Midland Park, New Jersey. Thus, 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 impractical.
Business Loans: When someone starts a small business in Midland Park, New Jersey, they normally don't have the money to fund its start-up and first few years of operation. So, the initial step is often getting a loan from a bank. However, if the business fails, and the borrower can't make payments, or the lender engages in some type of unlawful conduct, the aggrieved party is going to seek redress. In some cases, the parties will have to resort to civil litigation to resolve their disagreement.
Breach of Contract: In Midland Park, 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 contract, 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 disagreement is likely, which might lead to commercial litigation.
How Can a Midland Park, New Jersey Commercial Litigation Lawyer Help?
Business owners in Midland Park, 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 wise, 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 Midland Park, New Jersey commercial litigation attorney can help you on that front. A seasoned 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.