Contract Questions

Beel knew meed was very intoxicated and that the land

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Unformatted text preview: A’s letter finally gets to B. A’s offer terminated on: a. May 2. b. May 3. c. May 4. d. May 5. 324. Meed entered into a written agreement to sell a parcel of land to Beel for $80,000. At the time the agreement was executed, Meed had consumed a large amount of alcoholic beverages which significantly impaired Meed’s ability to understand the nature and terms of the contract. Beel knew Meed was very intoxicated and that the land had been appraised at $125,000. Meed wishes to avoid the contract. The contract is a. void. b. legally binding on both parties in the absence of fraud or undue influence. c. voidable at Meed’s option. d. voidable at Meed’s option only if the intoxication was involuntary. 325. Melissa mailed an offer to Jerry to sell him 8 ounces of gold at $450 per ounce. The letter arrived on May 1, and that afternoon, Jerry sent a letter of rejection to Melissa. The next morning, Jerry learned that the price of gold had gone to $490 per ounce, so he immediately mailed a le...
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