Litigation Lawyers in Palisades Park
In Palisades Park, 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 Palisades Park, New Jersey, litigation is intricate and expensive. While it can come up between sophisticated companies, it can just as easilyy involve people who would never guess that they'd one day be involved in a commercial litigation dispute in Palisades 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 Palisades Park, New Jersey
Commercial Leases: Despite the rise of the Internet, and e-commerce, most businesses in Palisades Park, New Jersey still need a physical location to operate. This space is typically rented from another party, under terms laid out in a commercial lease. These leases can lead to disputes, 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 Palisades Park, New Jersey, a lot of things can go wrong, possibly making commercial litigation necessary. In these cases, things like title defects (when the seller doesn't directly 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: The sale or purchase of personal property is another prevalent source of commercial litigation in Palisades Park, New Jersey. For example, a restaurant owner might order tomatoes from a supplier, and fail to pay for them. The owner might argue that the tomatoes were rotten and unusable when they arrived, and he therefore does not have to pay. Obviously, if the two parties can't resolve this conflict somehow, they will have 2 options: simply let it go, and likely never do business with one another again, or go to court, and resolve it through civil litigation.
Business Loans: When a business is started up in Palisades Park, New Jersey, one of the first steps is typically to take out a loan from a bank. However, this is a confusing process, and there are many things that can go wrong. If the borrower fails to make the required payments, or the lender attempts to defraud the buyer, civil litigation is a strong possibility.
Breach of Contract: Whenever a business in Palisades Park, New Jersey agrees to provide a product or service in exchange for something of value (typically money), a legally-binding agreement, called a "contract," is formed. If either party fails to perform their end of the bargain, they have breached the contract, and commercial litigation is a possible way to settle the conflict.
How Can a Palisades Park, New Jersey Commercial Litigation Lawyer Help?
If you are operating a business in Palisades Park, 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 fitting moment. So, it's important to be prepared for any reasonably likely commercial litigation scenario.
A commercial litigation attorney in Palisades Park, New Jersey can be very advantageous in that regard. Your lawyer can advise you of your legal obligations, as well as your legal rights. Knowing what is required of you, and the people you deal with in a commercial context, is the best thing you can do to avoid commercial litigation, and to prevail in a dispute, should one occur.