Quiz 11: Capacity and Legality
In Most States,if a Contract Is Disaffirmed Due to Intoxication,both
In most states,if a contract is disaffirmed due to intoxication,both parties must be returned to the status quo.
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Most states provide that contracts entered into by certain intoxicated persons are void.
After becoming sober,an intoxicated person can ratify a contract he or she entered into while intoxicated.
Kevin overhears his roommate Donovan tell someone that he is planning to go ski-diving next weekend.Despite not really knowing Donavan very well,Kevin purchases a $1M life insurance policy on Donovan's life.Donovan's chute fails to open and he meets his demise.Kevin can collect the $1M.
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