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Nick Cage Faces Breach of Contract Lawsuit

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By Kamika Dunlap on March 12, 2010 1:56 PM

Nicolas Cage continues to face financial problems and more legal woes. The actor was recently hit with a breach of contract lawsuit.

Nick Cage is being sued for defaulting on his Rolls Royce Lease payments, the Business Insider reports. Apparently, Nicolas Cage could not afford his payments and returned two vintage Rolls Royce cars.

Premier Financial Services leasing company is suing him over breach of contract

Typically, a breach of contract is one party's failure to live up to any of his or her responsibilities under a contract.

A breach of contract can occur by:

  • the failure to perform as promised;
  • making it impossible for the other party to perform; or
  • the repudiation of the contract (announcing an intent not to perform)

The main remedies for a breach of contract include damages, specific performance, cancellation and restitution.

The leasing company is now suing Nick Cage for the money they lost by selling the two Rolls Royce cars wholesale. The company wants $104,490.68 for the '64 Rolls, and $137,077.06 for the '02.

As previously discussed, the 'National Treasure' actor is facing a lawsuit by Red Curb Investments for approximately $3 million in unpaid loans.

In January, Christina Fulton, the mother of Cage's 18-year-old son, sued Cage for fraud for $13 million. He's also locked in legal battles with his former accountant.

As previously reported, Nick Cage is suing former business manager and accountant, Samuel Levin.

According Cage's allegations, he is forced to sell major assets and is faced with a huge tax liability due to Levin's "incompetence, misrepresentations and recklessness."  Cage blames his ex-manager for "sending him down the path to financial ruin" and seeks $20 million in damages from Levin.

Levin however, filed a counter-suit claiming he is owed $129,000 for recent work.

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