Litigation Lawyers in Stevens Point
In Stevens Point, Wisconsin, "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.
In Stevens Point, Wisconsin commercial litigation can be very complicated and costly. While it typically involves two business in a legal dispute with one another, it might also arise between ordinary individuals who were engaged in an informal business transaction (such as someone selling a car to her neighbor), and never would have guessed that they might be thrown into a commercial litigation case in Stevens Point, Wisconsin.
Common Sources of Commercial Litigation in Stevens Point, Wisconsin
Commercial Leases: Despite the rise of the Internet, and e-commerce, most businesses in Stevens Point, Wisconsin still need a physical location to operate. This space is usually 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: Buying office space, a home, or an empty plot of land in Stevens Point, Wisconsin is not a simple process, and something can go wrong at any step along the way. For instance, 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 certainly lead to the buyer demanding compensation, in the form of a full or partial refund, from the seller. If no agreement can be reached, commercial litigation is the likely result.
Sale of Goods: It's far more common for individuals to buy personal property, rather than real estate, in Stevens Point, Wisconsin. 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 Stevens Point, Wisconsin, 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 Stevens Point, Wisconsin, 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 Stevens Point, Wisconsin Commercial Litigation Lawyer Help?
If you run a business in Stevens Point, Wisconsin, 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.
The best thing you can do on that front is retaining a qualified Stevens Point, Wisconsin commercial litigation attorney. Your attorney can provide you with advice and information that, if followed, will help you avoid litigation in the first place. And, if litigation becomes unavoidable, a good lawyer can give you the best possible chance of obtaining a favorable result in court.