Litigation Lawyers in Albuquerque
In Albuquerque, New Mexico, 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 Albuquerque, New Mexico, litigation is confusing 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 Albuquerque, New Mexico. 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 Albuquerque, New Mexico
Commercial Leases: Despite the rise of the Internet, and e-commerce, most businesses in Albuquerque, New Mexico 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 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: Buying office space, a home, or an empty plot of land in Albuquerque, New Mexico is not a simple process, and something can go wrong at any step along the way. For example, there might be a title defect, or some type of physical flaw on the property, and the seller fails to disclose it to the buyer, this will almost definitely lead to the buyer demanding payment, in the form of a full or partial refund, from the seller. If no agreement can be reached, commercial litigation is the possible result.
Sale of Goods: It's far more prevalent for individuals to buy personal property, rather than real estate, in Albuquerque, New Mexico. 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 conflict. In some cases, these disagreements lead to commercial litigation.
Business Loans: Usually, when a business gets started in Albuquerque, New Mexico, 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: When an individual or business in Albuquerque, New Mexico, 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 Albuquerque, New Mexico Commercial Litigation Lawyer Help?
If you are operating a business in Albuquerque, New Mexico, it's likely 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 necessary to be prepared for any reasonably likely commercial litigation scenario.
A commercial litigation attorney in Albuquerque, New Mexico can be very advantageous in that regard. Your lawyer can advise you of your legal commitments, as well as your legal rights. Knowing what is required of you, and the individuals you deal with in a commercial context, is the best thing you can do to avoid commercial litigation, and to succeed in a dispute, should one occur.