You and a new potential business partner go out one summer evening to a restaurant in Kingston, Ontario, to talk about carrying on business together.

You both have many alcoholic drinks and, after seven hours of talking, you agree to enter into a contract with the new business partner. You agree to buy $10 million worth of chicken and beef from him.

The next morning you wake up and regret that you ever signed the contract. You think that you were not in the right state of mind to sign the contract.

Is the contract valid? Yes, no, or maybe?

Explain your answer.