27 Apr 2022

82

The Gambler Who Blew $127 Million

Format: APA

Academic level: College

Paper type: Essay (Any Type)

Words: 827

Pages: 3

Downloads: 0

Questions always ensues where matters contracts are involved. At any given time, matters contract are always contentious. Today, there are so many contractual dispute cases in the American courts than ever before. Some of the argument that suffice in such circumstances are issues to do with timing and circumstances that may lead contractual obligation. Contractual matters signed under intoxication have always presented heated arguments.

I stand on the view point that a contract signed under influence of alcohol may be valid or invalid depending on the circumstance (Dell Bock, 2000). It can be argued that a person who takes part in signing a contract while under influence of alcohol may opt to cancel the contractual obligations with the other party. The other option could be by seeking legal redress from judicial institutions. Usually there are contractual obligations that gives provision for being of level headed and judgement at the time of contractual agreement. 

It’s time to jumpstart your paper!

Delegate your assignment to our experts and they will do the rest.

Get custom essay

The law does offer straightforward provision to cases of contractual matters signed under influence of alcohol. In most cases the law will always try to create a balance on the interest of person who signed the contract under influence against the right of the sober person who is considered second party in contractual signing. I feel it would be of interest for the members of the public to have policies that allow people to have their way with contractual matters presumably signed under influence of alcohol. However, such a scenario may plunge societies into chaos. 

It is an obligatory requirement for contract to be signed in a define environment that are conducive for such. One of the principal provision of contractual signing is that it must be accepted by all the parties involved regardless of the changes that may happen there after. The parties singing the contract must come to agreements to all the terms of enjoyment. This second provision requires that both parties may be of right frame of mind to allow for contractual signing. Another critical component in contract signing is the presence of exchange of valuables, legally called consideration. In addition to the above mentioned, the terms of engagement must be definite, concise and clear in a way that allow the courts to make informed decision (House, 2010). In the case a party may be intoxicated at the time of contractual agreement. The argument of the frame of mind suffice in the mold that an intoxicate party may not have been in a position to understand all the contractual provisions to what he or she is agreeing to. 

Ideally, contractual agreement under influence does not always end just by a person affirming to an intoxicated situation. In most cases, it must be prudent for the disputing party to show defense and evidence that may allow for squashing of the case. In most cases, it would be an injustice for law to only defend one party under such conditions. In this circumstance, an impairment cannot be used as a principal defense. Much argument must a show of evidence as to how the supposed impairment may have led to misinformation as well as incapacity. Based on the above scenario, it is at the premise of the court to rule that the contractual obligation is void making it possible for the disputing party to get away with the contract that he/she may have signed. Some of the other argument that the affected party may use to support their argument include: Operation under duress, unconsciousness, illegality, a mistake, misinterpretation and a possible violation of a public policy.

However, it must be realized that the other party may not lack the possible defense to present his/her case. One of the possible argument that can validly hold in the court of law is complete unawareness of the mental state of the aggrieved party. Another reason argument would be that the contractual agreement may have happened in good faith and it would hurt to invalidate such an arrangement. As such, the law allows the defense to sue for psychological damage in such a case. Traditionally, the law is meant to create fairness and equity, “Quasi-Contractual Claims.” In reality, this provision allows the defense to recover what may have been lost under their good faith acts in the event that the contract truly existed. 

It can further be noted that there could be criminal circumstances in the case of contractual agreement. Principal among them could through an attempt to induce an impaired person into signing the contract thereby allowing one party an advantage over the other. Some other possible schools of thoughts that must be considered in the case presented is the concise circumstance of their engagement. This could be the only way that can help in significant protection to the rights of the plaintiff. Some of the unusual argument that may use from previous situations that may have happened to the person. As such, there is a practice to always manipulate the plaintiff. 

In summary, contractual obligations should be done in an environment that allows for such an act to occur. The laws must be made to allow for concise definition of circumstances that may lead to such contractual disagreements. However, the it must be noted that the law must be that which protect both parties as such are the kind that bind legal frameworks. 

References

Del Boca, F. K., & Noll, J. A. (2000). Truth or consequences: the validity of self‐report data in health services research on addictions.  Addiction 95 (11s3), 347-360.

House, E. R. (2010).  Evaluating with validity . IAP.

Illustration
Cite this page

Select style:

Reference

StudyBounty. (2023, September 15). The Gambler Who Blew $127 Million.
https://studybounty.com/the-gambler-who-blew-127-million-essay

illustration

Related essays

We post free essay examples for college on a regular basis. Stay in the know!

How AI Can Help Retailers Solve Business Problems

The global marketplace is currently more integrated than ever before. This situation presents a never-before experienced opportunity for retailers. Multinational organizations whose sole basis is the internet have...

Words: 2700

Pages: 5

Views: 138

The Natural Organizational Model and the Informal Groups

The nature of an organization is based on different factors such as the environment it is set up in. also, the type of activity it undertakes. This paper will examine the natural organizational model, the informal...

Words: 3009

Pages: 10

Views: 239

Why Pinkberry should focus on making orange and yellow the two prevailing colours

The fact that Pinkberry has evolved from a storefront to a nationally recognized brand makes this franchise of frozen dessert yogurt shops an example to be followed. Yes, the personality of a brand created a platform...

Words: 582

Pages: 2

Views: 93

Ford Motors: Board Presentation For Electric and Hybrid cars Production

Executive Summary The motor vehicle industry in America and worldwide is highly competitive with major players no longer enjoying the dominance that they had had before. Innovation and identification of trends...

Words: 1088

Pages: 4

Views: 130

Home Remodel Project Plan

Project Overview Home remodeling is one of the notable key projects undertake through project management, as a project manager is expected to come up with a clear plan that would help in meeting the expected...

Words: 2152

Pages: 8

Views: 69

How Airbnb Achieved Success

Hospitality industry includes firms that provide lodging and dining services for customers. Many of the businesses in the travel and hospitality industry offer customers with prepared meals, accommodation, snacks,...

Words: 906

Pages: 3

Views: 63

illustration

Running out of time?

Entrust your assignment to proficient writers and receive TOP-quality paper before the deadline is over.

Illustration