Legal all parties must have the legal capacity to consent

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In order for a contract to be legal all parties must have the legal capacity to consent. Review the attached letter regarding Terrance Watanabe who lost nearly $127 million over several months while gambling in a casino in Las Vegas. He argues that he was under the influence of alcohol and drugs provided by the casino while gambling and thus should not be relieved of his contractual obligation to be responsible for all of the monies lost and or still owed. Clearly state your opinion answering the following question:

Should the law allow someone that becomes voluntarily incapacitated through intoxication or other means escape from a contractual obligation using incapacity as a defense? Does it matter if the other party to the contract knew or clearly should have known that the other party is or has become incapacitated?

Reference no: EM132092600

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