When it comes to business, there are so many rules to follow most of us can’t keep track. However, one thing we can all wrap our heads around is that there are certain “rules” to play by. Not only are they rule, but they’re fully enforced by the law, meaning they come with serious consequences. These claims are known as commercial litigation, and having an experienced commercial litigation attorney can save you a lot of money if you ever find yourself involved in one. There are many types of commercial claims. Here are the most common:
Breach of Contract
A breach of contract happens where two parties have an agreement and one doesn’t fulfill their side of the agreement. The agreement is often in writing in a formal document, but it doesn’t have to be. It can be handwritten, on a piece of paper or even on a napkin (yes, this happens) or even not written at all. It’s a common misconception that a “handshake” agreement, that is, a deal you make with someone that’s not in writing, is not a “contract”, but it is. It’s an oral contract and is enforceable just like a written one, though there are a few exceptions to that rule.
Tortious Interference
A person or business is said to have committed “tortious interference” when they know that someone else has a contract or business relationship with a third party and gets one of them to break their obligations under that contract or business relationship. so, for example, if ABC Co. knows that XYZ and 123 companies have a contract to do business together, ABC can’t try to convince XYZ or 123 to stop performing the duties that their contract requires of them.
Breach of Fiduciary Duty
People have a fiduciary duty to others in any situation. the duty arises when a person or company has a special relationship of trust to another person or company. for example, an officer of a company owes a fiduciary duty to their company. The duty means they have to look out for the other person’s interests. when someone who owes the duty does something that is contrary to looking out for that other person, then they may be liable for breaching that duty.
Partnership Disputes
This is sometimes nicknamed “business divorce”. It just means that partners in a business often end up
disagreeing on a variety of issues, even to the point of having to “divorce” their partner. These kinds of disputes typically involve a few different types of claims, including breach of contract and breach of fiduciary duty, because partners typically owe each other a fiduciary duty and have an agreement of some sort, even if it’s just oral.
Fraud or Fraudulent Misrepresentation
Lawsuits often involve a claim that one person got the other to enter into an agreement by purposely giving wrong information. For example, a buyer of a business may believe that the seller got him to buy the business by lying about sales figures.
Regardless of the type of commercial litigation, you’re looking at, it’s important that you have an experienced commercial litigation attorney that has proven themselves in the courtroom. Business is business, and in the United States, we have laws in place to ensure the fair practice of business operations. If you think you’ve been treated unfairly in the commercial environment, don’t hesitate to contact us at LaBovick Law Group.
