Payne entered into a written agreement to sell a parcel of land to stevens. at the time the agreement was executed, payne had consumed alcoholic beverages. payne's ability to understand the nature and terms of the contract was not impaired. stevens did not believe that payne was intoxicated. the contract is

Binding both parties in legal manner

Explanation: The contract is the set of legal agreement which states about the duties of the parties involved in the contract .Payne and Steven  are involved in the agreement because he wants to sell some portion of land and Steven is buying that land piece respectively.

Even though Payne is intoxication at the time of agreement execution and Steven is not believing in this act of Payne ,the agreement is still binding both the people into an agreement as they are involved in the act of selling and buying the land legally.