Talk about first-world problems. Rapper Missy Elliot sued a Westmont, Illinois Lamborghini dealer for delivery of her car.
Elliot says she worked out a deal with the car dealership to buy a 2012 Lamborghini Aventador for $375,000. As part of the deal, Elliot agreed to put down a $30,000 down payment as well as trading in her 2005 Bentley for $85,000.
But as the Aventador's market value apparently has risen far above the original asking price of $375,000, Fox Valley Motor Cars has now refused to deliver Missy Elliot's Lambroghini, reports the Chicago Sun-Times.
Despite the exotic cars and high price points, Missy Elliot's Lamborghini lawsuit appears to be a textbook breach of contract claim. Fox Valley Motor Cars agreed to deliver a car. Missy Elliot agreed to pay $375,000 for it. As consideration for the deal, Elliot sold a Bentley and put down a $115,000 down payment.
The nature of a contract is to remove some of the risk of a deal. By entering the deal, the car dealer ensured a $375,000 buyer. So if the demand for Lamborghinis waned and prices dropped, the dealer could still demand full payment. On the other hand, by entering the deal, Missy Elliot ensured that she would only have to pay the $375,000 even should the price increase in the future.
If Missy Elliot wins her lawsuit, she could seek several different types of relief. She could seek a refund of her money. Or more likely, she will seek specific performance and delivery of her Lamborghini.