Are you in need of a Commercial Litigation Lawyer in Mississippi?
When you or your company become the unwitting victims of business fraud, there will almost certainly be a very negative effect on not only the profitability but also the economic security of your company. Fraud is able to take a seemingly endless number of shapes and sizes. Business fraud is a dishonest business practice that results in financial injury to another person or to their business. In one instance, a whole business transaction might be fraudulent, and in another, there might just be distinct fabrications that influence a business transaction.
In other circumstances, you might enter into different kinds of disputes with companies or their employees, members, clients, independent contractors, or vendors. Litigation is far from the only viable method for resolving these kinds of business conflicts. Other possible dispute resolution tactics, such as mediation or arbitration, will generally help achieve a more efficient and effective resolution to a commercial disagreement.
If you have experienced financial loss as the outcome of financial, business, or commercial fraud, the experienced and dedicated financial and business fraud attorneys at Germany Law Firm, PLLC zealously pursue outcomes that are in the best interests of our clients.
Our team of attorneys represents clients in any kind of general civil business litigation in federal and state courts. Business litigation includes all kinds of legal matters associated with business conflicts. In the event that you realize that you have questions pertaining to any business litigation matters, please feel free to reach out to the Germany Law Firm, PLLC for additional assistance and information.
The Legal Components of Commercial Litigation in Mississippi
The legal components of a case of business fraud in Mississippi include:
- First, the plaintiff has to demonstrate that the offender deliberately misrepresented material facts. A misrepresentation is an untrue declaration or, to put it another way, a lie. In cases of fraud, the falsehood has to be material, meaning that the lie has to have affected something necessary to the transaction, not some minor or irrelevant detail.
- Second, the plaintiff has to show that the defendant meant for them to believe and act upon the misrepresentation or omission of material fact.
- Third, the plaintiff has to prove that they honestly believed the deception. In cases of fraud, the plaintiff’s belief has to be understandable and genuine. A victim cannot claim that they trusted in an untrue fact if they were aware that the fact was false or if its duplicitousness should have been extremely apparent to the plaintiff.
- Finally, the plaintiff has to prove that, as a consequence of her or his faith in the omission or falsification, they were disadvantaged and endured harm. As an overall rule, fraud that has not caused any harm is not actionable.
Common Types of Business Fraud Committed in Mississippi
There are many types of business fraud committed in Mississippi every day in some form or another. Some of the most commonly reported examples of business fraud include, but are not limited to:
– Breach of Contract: Lawsuits for breach of contract are able to be brought against clients, vendors, employers, former employees, employees, business or real estate partners, or any additional entity wherein a contract is in place between a company and another entity, individual, or between business partners.
– Business Dissolutions: Conflicts among or between members of a company sometimes bring about the dissolution or break-up of the operation. Usually, the shareholders’ agreements, how assets and debts are managed, and the fair market value of the company are matters discussed in this kind of lawsuit.
– Breach of Fiduciary Duty: People who are in positions of trust and who misuse or abuse that trust could have breached their fiduciary obligation. For instance, the majority of shareholders might have a fiduciary obligation to the minority shareholders, trustees to the beneficiaries of a trust, or directors and officers of a business to their shareholders.
– Employment Conflict: Conflicts often occur between employees and employers regarding problems like holiday pay, work obligations, and overtime.
– Partnership or Shareholder Disagreements: Disagreements among partners or shareholders do not necessarily have to end with the termination of the company. These disputes, however, will nevertheless have to be contested and settled by the courts. These disagreements can include, for example, the respective responsibilities and rights of the business owners, distributions made to the owners, salaries, or separate concerns having to do with the company’s daily practices and operations.
– Debt Collections: Collecting overdue money for companies from their customers and other individuals or businesses.
– Agreements Limiting Competition: Agreements limiting competition include non-disclosure, non-solicitation, and non-compete contracts. Restraining orders and pre-trial sanctions are typical kinds of these litigations.
– Tortious Interference with Contractual or Business Relations: These conflicts emerge when a single entity or person has a business relationship or a contract with another and another person unlawfully interferes with that relationship or contract.
– Purchase and Sale Contracts: Purchase and sale contracts may include the buying and selling of businesses, land, product, or buildings or the assignment or transfer of leases.
– Fraud and Deceptive Trade Practices: Deception, fraud, or misrepresentation in business can take countless different appearances; for instance, deceptions about product quality, financials of businesses sold or bought, or square footage or other features of real estate sold or bought.
– Negligence: Negligence is a violation of the standard of care expected out of a professional according to the law. The assumption inherent in all negligence cases is that people have a responsibility to exercise reasonable care and to consider the possible damage that they could potentially inflict on other people. To prove negligence, the plaintiff has to establish that:
- The offender had an obligation
- The offender ignored that obligation
- The infringement notwithstanding, the plaintiff would never have experienced the losses
Proving Negligence In Commercial Litigation In Mississippi
To begin with, the plaintiff has to prove that an obligation existed. This duty, more commonly known as the standard of care, is usually that of a sensible person. Professionals are, however, expected to maintain a higher standard based on the specific industry. Investment and financial advisers, attorneys, certified public accountants and other accountants, engineers, bankers, manufacturers, and contractors are all held to varying standards of care. For instance, negligence on the part of a licensed professional is referred to as malpractice. A financial advisor has to observe the Financial Industry Regulatory Authority Code, which is a collection of regulations intended to dictate the performance and behavior of financial advisers.
Second, to be on the winning end of a negligence case, the plaintiff has to demonstrate that the aforementioned standard of care was disregarded.
Third, the plaintiff has to prove that had it not been for the act of negligence, she or he would not have suffered any damages. The offender is liable for repaying the plaintiff, should the defendant’s behavior be determined to have resulted in impairment to the plaintiff. If, however, the offender could not rationally have anticipated something bad taking place as a consequence of their behavior, then the offender may not be held accountable.
Securities Fraud or Investment Fraud In Mississippi
Securities fraud, also known as investment fraud, begins with an assortment of dishonest practices in the commodities or stock markets. Securities fraud stems from deliberately misleading information or the exclusion of material information that causes an investor to carry out sales or purchasing choices. Securities fraud infringes on both federal and state securities laws.
Regrettably, consumer and business fraud is extremely prevalent in the United States. We generally hear news reports about credit card number theft, identity theft, CEO embezzlement, investor fraud, and the bamboozling of ordinary people or, even worse, retired women and men who are living on very meager fixed incomes.
Commercial Litigation Attorneys in Mississippi
If you think that you or your company have fallen prey to some form of commercial fraud or if you have been wrongly implicated in a claim of commercial fraud and need quality legal representation, we strongly recommend that you reach out to the commercial litigation attorneys at Germany Law Firm, PLLC.
Our team serves people and businesses across Mississippi that have been duped in a business or other financial transaction as a result of business fraud. We employ the assistance of certified business valuators, forensic accountants, fraud examiners, and other preeminent specialists. The transaction specialists assist us in exposing fraud, gathering proof that will be essential to the outcome of the fraud allegations (including all kinds of financial and commercial transactions), and locating any missing assets. Our business litigation attorneys serve clients throughout Mississippi and have the knowledge, resources, and experience that are required to challenge your case and walk away with a favorable outcome.
Our dedicated and hard-working commercial litigation attorneys at the Germany Law Firm, PLLC have a history of dealing with complicated commercial, financial, and business transactions that allow us to decipher intricate plots designed to deliver ill-gotten financial gains at the expense of another and proficiently represent those who are dealing with business fraud issues. We have been representing clients having issues with various types of business fraud from all over Mississippi for nearly 40 years. Please contact us today at 601-487-0555 to learn how we can help.