Litigation Lawyers in Farmingville
In Farmingville, New York, 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 Farmingville, New York, litigation is perplexing 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 Farmingville, New York. 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 Farmingville, New York
Commercial Leases: In Farmingville, New York, 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: When buying a house or a plot of land in Farmingville, New York, there are numerous things that can go wrong, which can lead to commercial litigation. Whether there is a defect in the seller's title, a physical defect on the property that the seller did not disclose, or the buyer fails to make timely payment, a dispute, which might lead to commercial litigation, is possible.
Sale of Goods: Buying and selling personal property is far more typical than buying and selling real estate in Farmingville, New York. Therefore, 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 impossible.
Business Loans: Starting a business in Farmingville, New York, or anywhere else, is costly. Usually, when somebody starts a business, they have to take out a loan from a bank. However, if the lender engages in some type of improper activity (such as trying to collect payment in a manner not allowed in the loan agreement), or the borrower doesn't make the payments on time, commercial litigation is likely to result.
Breach of Contract: When a business or individual in Farmingville, New York 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 obligated to perform their commitments, 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 Farmingville, New York Commercial Litigation Lawyer Help?
If you run a business in Farmingville, New York, it should be clear by now that commercial litigation can arise in many different situations, possibly when you least expect it. For that reason, it's a good idea to have plans in place to deal with commercial litigation issues, should they come up.
A commercial litigation attorney in Farmingville, New York can be very helpful 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.