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Unformatted text preview: Valid if they understood they were making a contract and it had legal consequences. (drunk) Voidable if they were so drunk they didn’t understand they were making a contract. (DRUNK) Drunk people can make bad contracts just like sober people can, and they are stuck! Mental Incompetence Contracts made by them are void, voidable or valid. If the person has been adjudged incompetent in court, the contract is void. If the person is incompetent (doesn’t understand he’s making a contract or understand what the agreement is) at the time of making the contract, the contract is voidable. If the person is having a lucid moment, the contract is valid. Any voidable contract can be ratified; the choice belongs to the incompetent....
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This note was uploaded on 11/07/2010 for the course BLAW 3311 taught by Professor Boykin during the Fall '07 term at UT Arlington.
- Fall '07
- Business Law