Individuals and companies in Louisiana and elsewhere enter into business agreements for various reasons; however, these agreements will usually benefit both parties. However, when a party fails to uphold their terms of the agreement, this could put the other party at a disadvantage or cause them to suffer damages. When there is a breach of contract, a dispute regarding contract terms usually arises, seeking to penalize the breaching party.
According to recent reports, comedian and current host of the television show “Family Feud,” Steve Harvey, was sued in federal court for breach of contract. Preliminary reports claim that Harvey breached a contract with Business Aircraft Leasing Inc. when he failed to meet the terms of his lease agreement.
In April of this year, Harvey leased a Gulfstream G-IVSP S/N 1289 from Business Aircraft Leasing Inc. and this was memorialized in a leasing agreement. Part of this deal supposedly involved custom interior modifications that were requested by Steve Harvey. However, after paying $201,000 for custom interior work, Harvey decided to back out of the deal during late May or early June of this year.
The requested interior work was completed and Business Aircraft Leasing Inc. was billed $454,000 for these alterations in order to regain possession of the aircraft. Now Business Aircraft Leasing Inc. is claiming that Harvey owes $205,000 for the interior modifications to the aircraft and is claiming that Harvey breached a “side letter agreement” that was executed when the leasing agreement was executed in April.
When a party to the agreement does not meet the terms of the contract, one party could suffer greatly. This often results in business litigation in order to address this breach. Individuals or companies facing issues such as breach of contract should understand their options and how he or she could address these concerns and issues. This could help them make informed decisions and make themselves whole again.
Source: Courthousenews.com, “Firm Says Steve Harvey Backed Out of Plane Deal,” Kevin Lessmiller, Nov. 13, 2015
