A contract is void if one of the parties was intoxicated at the time of its formation.
Dan is a promoter for the soon-to-be-incorporated firm of E-Business, Inc. Dan signs a
contract with Smith & Jones, Accountants, to render their services before E-Business is
incorporated and for one year after the incorporation. E-Business is incorporated. Three
months later, after Smith & Jones has continued performing under the contract, the
E-Business board of directors tells the accountants that it is canceling their contract.
Smith & Jones files a suit against Dan and E-Business, alleging breach of contract. Will
Smith & Jones prevail?