One night in a bar, you start conversing with a patron and ask him if you can purchase his 1969 Mustang Cobra out front. He says you would never give him $50,000 for it, and you say you will. He then says lets discuss the terms. You discuss the terms as you drink whiskey. You ask him very technical questions about the car and its performance. Satisfied, you start. discussing the price again. You both discuss technical and complicated ways of structuring the deal, and write up a contract in accordance with your agreement. The seller then says he would like to change some terms after thinking about it, so the contract gets re-written. All the elements of a contract are present. He also calls a buddy for advice, and incorporates that advice into the contract. You settle on a time and place to meet the next day and both sign the contract. When you arrive the next day, he is nowhere to be found so you call him, and he says he never had any intention to actually sell the car, he was just messing with you. Would you prevail in court if you sued him for breach of contract (not doing what he agreed to do)? Yes, no matter what people are always bound under any circumstances when they sign a contract. No. he was drunk, and drunk people cannot make contracts. Yes, under the objective theory of contracts, it appeared he intended to be bound. No, no reasonable person would think he intended to sell his car based on the facts