The New York Post said damages -- which could be as high as eight figures -- will be awarded at a jury trial.

Weil, which has already won a summary judgment in a federal civil complaint, reportedly wants $20 million in damages for the contract violation.

The lawsuit stems from the watchmaker's complaint that Theron failed to exclusively wear its products in public as promised.

"It is obvious that Theron cannot be dismissed ... she was not an unwary agent," the Post quoted U.S. District Court Judge Colleen McMahon as writing in her ruling.

McMahon also noted Theron's initials appeared 10 times throughout the contract.

Theron won an Oscar for her work in "Monster" and can be seen in the current release "Battle in Seattle."