Is there anyone that can help me with these 2 questions on the subject of Business Law?

Question by Erica C: Is there anyone that can help me with these 2 questions on the subject of Business Law?
QUESTION 1) Lisa and Chad had been dating for several years. Chad gave Lisa an expensive birthstone ring for her birthday. Despite the lengthy courtship, Chad unceremoniously dumped Lisa the day after her birthday. Lisa went out to a club with a few friends, where the group had a few drinks. Obviously intoxicated and distraught, Lisa said, “I’ll sell this ring for $ 5 to anyone who agrees to give Chad a black eye.” Lisa’s friend Jeremy quickly said, “I accept.”
A contract probably hasn’t been formed because of what basic principle of contract law?

ANSWER CHOICES:

A. Freedom of contract C. Objective theory of contracts
B. Quasi-contracts D. Plain-meaning rule
6. Ty and Cher went out for dinner to discuss a business venture.

QUESTION 2) Cher had several glasses ofwine and became visibly intoxicated. Ty and Cher continued to discuss the venture, and formed a contract in which Ty received 80% of the profits resulting from the venture, and Cher received 20%, even though Cher agreed to invest the majority of the money. Ty agreed to contribute her expertise and services to the venture. The next morning, Cher realizes her terrible mistake. Cher’s best chance to avoid the contract with Ty is to say that

ANSWER CHOICES:

A. she didn’t know what she was doing at the time the contract was formed.
B. she was drunk at the time the contract was formed.
C. the contract is unconscionable.
D. the contract is illegal.

THANKS GUYS!

Best answer:

Answer by blind fool
1. C

http://www.businessdictionary.com/definition/objective-theory-of-contract.html

2. B – Capacity to make the contract is not there
http://consumer-law.lawyers.com/Contract-Basics.html

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