A contract signed by a drunken individual is classified as what type of contract?

A contract signed by a drunken individual is classified as voidable because, while it is not automatically invalid, the individual has the right to affirm or void the contract upon regaining sobriety or if it can be proved that they lacked the capacity to understand the nature of the agreement at the time of signing.

Voidable contracts are those that can be enforced at the discretion of one party. In the case of a drunken individual, if they can demonstrate that they were unable to comprehend the terms of the contract due to intoxication, they can choose to void the contract. However, until they exercise that option, the contract remains valid and enforceable.

Valid contracts are agreements that fulfill all legal criteria and are binding, whereas void contracts lack enforceability from inception, making them completely invalid. Unenforceable contracts, on the other hand, may meet legal requirements but cannot be enforced in a court for various reasons, such as statute limitations or issues of public policy. In this scenario, the unique circumstance of intoxication provides a basis for the contract being voidable rather than void or unenforceable.