What Is Commercial Or Business Litigation?
Commercial or business litigation is generally a dispute over money. A business dispute can take many different forms. One of the most common is a breach of contract. Another is litigation involving loans, which are also breach of contract cases, but New York has a streamlined procedure of a summary proceeding when you have a negotiable instrument, which is any document a person has signed, which indicates that they owe another person money. In those cases, it is usually easy to get a judgment in the state of New York.
Another common commercial dispute over money is when people have an agreement, but it’s not produced in writing. There is no agreement, but there is something called equity, which means that one person was unjustly treated by the other. These cases are called quasi contract, quantum meruit, or unjust enrichment cases. In these types of cases, one party has received the benefit from another party, even though there is not necessarily a contract.
What Are Some Common Reasons That Businesses End Up In Commercial Litigation?
One of the most common reasons that companies end up in litigation is because a party did not pay for what they received or they did not repay money that was owed. For example, when a business performs work under a contract and they don’t get paid. Or a contractor has a contract, but they do extra work and are entitled to be paid for that work.
Should I Contact An Attorney Beforehand If I Suspect That My Business Will Be Sued?
Businesses should always take legal advice from an experienced New York City business lawyer if they think they are going to end up in court. Sometimes disputes can be worked out before they end up in litigation and that generally will bring down the cost to the client.
If a business is owed money, they should definitely contact an attorney right away, because there are statutes of limitations for these various claims. One of the most common areas where people miss deadlines is with liens. For example, a contractor who does work for a job site and isn’t paid has a right to put a mechanic’s lien on the job site. However, if they don’t file it in time, they can be completely barred from doing so.
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