Litigation Lawyers in Randolph
In Randolph, Vermont, "commercial litigation" refers to any legal disagreement between business entities, arising from some type of business transaction, which ends up being settled through the legal system. It can arise in almost any situation, at any time.
Commercial litigation in Randolph, Vermont is often very complex and expensive, and while it often involves two businesses in a legal dispute, it can also come up between ordinary individuals, who never thought they'd get involved in Randolph, Vermont commercial litigation.
Common Sources of Commercial Litigation in Randolph, Vermont
Commercial Leases: Most businesses in Randolph, Vermont operate from a single physical location, despite the rise of the Internet and e-commerce. These locations are often in rented space, which is usually more cost-effective than purchasing real estate just for the purpose of operating a business. These rental agreements are laid out in documents called "commercial leases." Like every other contract, these leases are sometimes broken. If the parties cannot resolve the ensuing dispute amongst themselves, they might have to resort to commercial litigation.
Sales of Real Estate: Whether you're buying a house, an office building, or a vacant lot in Randolph, Vermont, there are plenty of things that can go awry in the process. For example, the seller might fail to disclose an easement on the property, or a physical defect, which you only discover after the sale is final. Or, if you're the seller, the buyer might fail to pay on time. Such mishaps are almost certain to cause a dispute, and if the parties cannot resolve it amongst themselves, commercial litigation might be the only option.
Sale of Goods: It's far more common for individuals to buy personal property, rather than real estate, in Randolph, Vermont. 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 example, 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 dispute. In some cases, these disputes lead to commercial litigation.
Business Loans: When someone starts a small business in Randolph, Vermont, they usually don't have the money to fund its start-up and first few years of operation. So, the first 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 dispute.
Breach of Contract: In Randolph, Vermont, contract law is simple in principle: when someone agrees to exchange value for value (a product in exchange for money, for example), 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 agreement, 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 dispute is likely, which might lead to commercial litigation.
How Can a Randolph, Vermont Commercial Litigation Lawyer Help?
Business owners in Randolph, Vermont 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 prudent, therefore, to take some simple steps to prepare for possibly civil litigation, so it will only be minimally disruptive to your business, should it happen in the future.
A commercial litigation attorney in Randolph, Vermont can be very helpful 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.