Florida residents who enter into legal contracts understandably want to know that the law will protect them if the provisions of those contracts are ever broken. This is important regardless of the dollar value associated with the contracts. Financial implications are just one component to contract law as principles and ethics are also involved.
A case that recently concluded with a jury trial in Miami-Dade Circuit Court addressed both the pincipled and financial aspects of a contract or agreement between a boxer and a boxing promoter. At the heart of the matter was the allegation by a promoter that the boxer he essentially discovered eight years ago unlawfully signed on with another company. The promoter alleged that the boxer was under contract with him at the time the boxer made an agreement with another business. A jury, however, determined that there never existed a valid contract. As such, no breach of contract occurred.
Despite the lack of contract, the jury did believe that the promoter successfully facilitated the boxer's lucrative career and that the boxer's actions took advantage of that. In exchange for what is referred to as unjust enrichment of himself, the boxer has been ordered to pay the promoter $8.5 million in damages, just over one-third of what was originally sought. Reports indicate the boxer plans to appeal the decision.
When problems with business deals are encountered, Florida residents may wish to consult with an attorney for advice. Understanding the nuances of the law can help in determining the best course of action.
Source: ESPN, “Florida jury orders Canelo Alvarez to pay $8.5m in contract case,” Dan Rafael, June 13, 2016