Monday, 26 September 2016

Things You Should Know When Suing For Commercial Fraud

Although Commercial fraud is not very much common in Singapore, but that does not means you don’t get any of these cases. The government in Singapore take all the commercial fraud cases very seriously and government tries to resolve the issue as soon as possible. But this also means liabilities are there on both the side and you cannot sue anyone for commercial fraud with blind eyes. There are several things that you should know when suing for commercial fraud and I am sharing some of the most important things below with you. 

Know your case: before you sue for a commercial fraud, it is very important that you know and understand your case. You should know if you actually have a case or not. You can sure someone for commercial fraud only if they lied to you about something in written. If they sold you a product claiming it is brand new, and on the bill the said refurbished or used, then you cannot sue them for this. If you would sue them, then you would have no proof to prove your opinion. In that situation, you will lose the case on first hearing and you will end up paying money to them for their legal fees. So, it is advised that you check facts, you talk to your lawyer and you will be able to get better result

Size of the claim: You need to understand that you can ask only a certain amount in refund against a commercial fraud. Before suing someone for a commercial fraud, it is advised that you check the size of the claim and you evaluate its value. If you realize the size of the claim is not big enough and you cannot justify the investment of your time, money and efforts, with that claim, then you should ignore debtor. It is also possible that the claim that you will get from the court will be even lesser than the legal fees. That is why you must check the claim size and then only you should take your decision of suing or not suing.

Debtor financial condition: Along with claim size it is also important that you check the financial condition of debtor. If your debtor is already in debt or if he financially broken, then chances are high he would not be able to pay anything to you. If that debtor already filed for a bankruptcy, then chances are high court will not even entertain your case. To cross check these things, it is advised that you take various help in various manners. If you notice a company filed for bankruptcy, then it may have more liabilities then its assets and it will be of no use for you to sue that company. Same case can be there for other things or situation as well. Hence, you should check this and you should sue them accordingly.

The legal fees: When you sue a company for commercial fraud, then you will have to pay the legal fees to your lawyer. You should not expect your lawyer to get the fees only when he wins the case for you. If your case is not strong enough, then your lawyer may take the case, but he would never give you an assurance of winning. That also means he would as for the money from you on hearings or in other manner. The fees structure may vary depending on your terms and condition with the lawyer. And even if your lawyer gives you an assurance for the case and its result, then also you may need to plan the fees for your pocket only. Hence, it is advised that you check the legal fees associated with suing someone for commercial fraud and then only file it.

Debtor legal fees: At the time suing someone for the commercial fraud you not only need to think about winning, but you should plan for loosing as well. I am not suggesting you to lose the case, but if you would loose the case, then court may ask you to pay the legal fees to debtor. This legal fees may vary depending the on lawyers cost of the debtor and other expenses that they made on this case. So, when you sue someone for a commercial fraud make sure you do your research on their point of view as well. Also, you should do the planning according to make sure you have enough money to pay their expenses. This cost may vary from party to party or other factors and you will not have any control for same in any ways. So, make sure you must remember this as well along with all the other things that I shared with you.

Stress and time: A court case is always complicated thing and if you are suing someone for commercial fraud, then you are the one who need to prove everything. The other party only need to defend themselves and if you cannot prove the commercial fraud, then it will be your loss. Needless to say, it will be a very stressful process for you. You may need to spend several hours, everyday every week in your lawyer’s office. That would be not only stressful, but it will be very much time consuming as well. If you are not ready for this, then you might not get any good outcome as well. The lawyer of debtor may trap you into various situations and you may end up having so many complications as well in the court room. So, make sure you keep this thing in your mind to avoid any kind of complication or troubles.

In addition all the above things, it is also very important that you take your decision with cool mind. If you will make your decision of suing someone for commercial fraud in the rage of anger, then you are not going to get any good result from that in any situation. This is a decision that you should finalize only after your detailed research and consideration of all the factors with a cool mind.