Litigation Lawyers in Huntington
In Huntington, New York, 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 Huntington, New York, 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 Huntington, 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 Huntington, New York
Commercial Leases: In Huntington, 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 real estate in Huntington, New York, a lot of things can go wrong, possibly making commercial litigation crucial. 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: Buying and selling personal property is far more typical than buying and selling real estate in Huntington, New York. Consequently, 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 unrealistic.
Business Loans: Frequently, when a business gets started in Huntington, New York, 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: In Huntington, New York, 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 arrangement, 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 conflict is likely, which might lead to commercial litigation.
How Can a Huntington, New York Commercial Litigation Lawyer Help?
If you have a business in Huntington, New York, it should by now be apparent that there are various 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.
And the best thing you can do on that front is to take steps to minimize the chances of disagreements leading to commercial litigation in the first place. Commercial lawyers in Huntington, New York can be very advantageous with that. By advising you of your legal rights and obligations, your attorney can help you avoid making the mistakes that lead to legal disagreements in the first place.