1. Mary owns a company called Mary’s Cheap Boats that specializes in buying and selling used boats. Ann is an elderly lady who does not read and write the local language very well and whose husband recently died. Ann and Mary have known each other for many years, and Ann always comes to Mary for important decisions, particular those ones on financial issues. Ann has a lot of bills to pay and needs to come up with money quickly. Her husband left her an old boat that he had for many years, so Ann visited Mary’s company to discuss selling the boat. When Mary saw a picture of the boat, she realized it is a very rare, antique boat called a Black Manta. The average market price for a Black Manta boat is around $250,000.

Mary invited Ann to go to lunch to discuss the sale of the boat. During lunch, Mary kept ordering white wine and together they drank 3 bottles of wine. Over lunch, Mary said the boat is old and worth only $1000.

Mary and Ann then signed a contract specifying that Ann agreed to sell the boat to Mary for $1,000. The next day, Ann found out that the boat is valued at $250,000. She wanted to terminate the contract with Mary.

Advise Ann whether she can terminate the contract with Mary

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