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. Write an analysis about some principals associated with contractual capacity. Include answers to the following questions.

Should the law allow people who become voluntarily incapacitated through intoxication or other means escape contractual obligations using incapacity as their defense? When is a contract entered into by an intoxicated person voidable? When is it valid? Does it matter if a party to the contract knew or should have known that the other party is incapacitated? Was there negligence involved by the casino?Should there be any remedies paid by either party?Use the article as a reference point and include at least one example from personal experience or original example in the essay.