Contracts made by severely intoxicated people

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Reference no: EM132086395

1. A newspaper runs the following add, "Nationally famous suits. Today only $300.00. " Is this an offer?

This is most likely only an invitation to deal since the terms are not certain and definite enough.

This is definitely an offer. All of the terms are specific and nothing is left open to negotiate.

This is a firm offer.

This is a counter-offer.

2. Contracts made by severely intoxicated people:

Are voidable rather than void.

Must be in writing to be cancelled.

Lack consideration.

Are always binding, because the law does not want to reward drug or alcohol abuse.

Reference no: EM132086395

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