Commercial law, also known as business law, is concerned with matters that generally involve a financial transaction. As such, commercial law often deals with matters related to real estate contracts, business and personal finance, contracts for services, and secured debts such as home mortgages. If a dispute arises during the course of such transactions, and a mutually-satisfactory resolution to the dispute cannot be worked out, it may be necessary to obtain the services of a commercial litigation attorney.
The recent economic recession has, in part, caused a dramatic increase in commercial litigation in a number of areas, and if you need help with such litigation, Lighthouse Legal is there for you.
Real Estate Purchases and Home Mortgages
The downturn in the housing sector revealed that many homeowners had been lured into contracts such as balloon mortgages or variable rate housing loans by deliberate deception on the part of a lender. In many cases, consumers were sold property with an actual value far less than its supposed “market value.” Those having reason to believe that they were the victims of predatory lending or purchased a home at a value far in excess of its “real” value may want to consider commercial litigation to recoup their losses or to place themselves in a more advantageous financial position.
Personal and Consumer Finance
Some unscrupulous businesses will offer what appear to be very attractive interest rates or other incentives to consumers but, at the same time, will often “bury” additional financial charges or conditions that can add additional costs that the purchaser may be unaware of. In such cases, the purchaser may be forced into commercial litigation to relieve themselves of the unfair financial burden imposed by such agreements.
In addition to consumer purchase contracts, most of us have entered into contracts for things such as home improvements or services to be provided by another individual or a business. If the contractor fails to meet the terms of that contract, the other party can take legal action to force the contractor to fulfill their stated obligations. This is particularly true if the contractor deliberately misled the purchaser in matters such as quality of materials to be used or the contractor’s ability to deliver the services promised.
These are, of course, only general examples of what can be a serious breach of trust and legal duties. In all matters related to commercial law, the advice of a qualified attorney like those at Lighthouse Legal is essential when you are contemplating legal action to protect yourself against unfair or unethical business practices.