BREACH OF CONTRACT (Case Study Sample)

NAME
Breach of Contract
College
Date
The case involves Revelations Perfume and Cosmeticslnc and Prince Rogers Nelson. Prince was accused of breach of contract between the two parties since he failed to guarantee the endorsement deal that was meant to promote the perfumes that were named after the musician’s album. The agreement was that the company would use Prince to promote its perfumes and also in choosing a market where they could develop its 3121 fragrance. Since Prince failed to make good on the endorsement the company suffered a loss and Prince was ordered to pay for the losses.
Compensatory damage
This was one of the legal concepts that was evidence in this case. Compensatory damage also referred to as actual damage entails the monetary value given to a person, or a party to compensate for the actual monetary or property that is under loss. This amount of money awarded is on the basis of the actual loss that has been incurred and agreed by the plaintiff. In this case, the revelations perfume and cosmetics company suffered a significant loss since the music artist failed to honor the agreement on marketing the product. Hence, Prince was requested to pay $100,000 as compensatory to the company for the damage incurred.
Anticipatory Breach of contract
This is the main legal concept in this case. This refers to thefailure of a certain party to fulfill an agreement that was legally bounded fully. This implies that there was an offer, acceptance, and consideration between the parties involved. The flamboyant music artist has been charged with breach of thecontract agreed upon by the respective parties to promote and market the perfumes. In this case, this represents an anticipatory repudiation since one party failed to bind to the contract agreed upon by the two partners.
Punitive damages
This refers to the money that is awarded to an individual for the damage and also beyond the actual damages received. This may involve situations where the defendant’s action regarding the case filed is considered malicious or reckless. In this case,Prince was requested to cater for the punitive damages to Revelation Company.
Revelation Company demanded arefund of more than $3 million that was accounted as lost profits from the business by Prince. This was also inclusive of punitive damage the company suffered from the breach of contract. The court did not establish concrete evidence to charge prince of punitive damage. However, the court charged him with his malicious acts and was ordered to pay $4 million for the ex