Was williamsons intoxication sufficient to void the mortgage

Assignment Help Management Theories

Reference no: EM131472229

Question: Williamson, an alcoholic who was threatened with foreclosure on her house, entered into a contract to sell it for $17,000. Smith, an attorney who had read about the foreclosure in the newspaper and who knew about Williamson's drinking problem, contacted Williamson and assured her that he could resolve her problem. Smith did have the sale of the house overturned. The court found that Williamson was intoxicated at the time of the sale and was paid only $1,700, thinking she had received $17,000. To ensure payment of the legal fees, Williamson again signed a mortgage contract, giving Smith temporary ownership of her house.

Because Williamson refused to pay the mortgage, Smith had to bring a foreclosure action (sell the property to get his money) on the mortgage. Williamson objected to the foreclosure proceedings on the grounds that she was severely intoxicated (and that she had a history of alcoholism) and that she did not understand what she was signing. She claimed that this lack of understanding made the mortgage she gave to Smith void. Was Williamson's intoxication sufficient to void the mortgage? (Smith v. Williamson, 429 So.2d 598)

Reference no: EM131472229

Questions Cloud

Aggregate demand curve-aggregate expenditure : Explain your answer using the relationship between the aggregate demand curve and the aggregate expenditure.

Write a lower bound on P : Suppose A is a real symmetric matrix. If the eigen-values of A equal to only 0 and 1 then prove that A is idempotent

Calculates the deviation of each group mean : Analysis of variance (ANOVA) can be described as the statistical method used to test if all the groups of a study are influenced.

Adjustment to macroeconomic equilibrium : Next, explain how the adjustment to macroeconomic equilibrium occurs when spending is less than production.

Was williamsons intoxication sufficient to void the mortgage : Williamson, an alcoholic who was threatened with foreclosure on her house, entered into a contract to sell it for $17,000. Smith, an attorney who had read.

Fixed-interest-rate loan or a variable-interest-rate loan : Would your answer change depending on whether a lender supplies a fixed-interest-rate loan or a variable-interest-rate loan?

Review the case of marshall and give the solution : Marshall, age seventeen, was ejected from his parents' home shortly after his graduation from high school. He then rented an apartment with Fletcher.

Discuss the three categories of ethical theories : Name and discuss the three categories of ethical theories.

Is the husband entitled to have this agreement canceled : Husband, who was suffering from schizophrenia and manic depression, had been in and out of a mental hospital, but at no time had he been declared insane.

User Account

All Pages