Smith and Roberson's Business Law 16th Edition by Richard Mann,Barry Roberts

Exercise 16

Ira, who in 2011 had been found innocent of a criminal offense because of insanity, was released from a hospital for the criminally insane during the summer of 2012 and since that time has been a reputable and well-respected citizen and businessperson. On February 1, 2013, Ira and Shirley entered into a contract in which Ira would sell his farm to Shirley for $100,000. Ira now seeks to void the contract. Shirley insists that Ira is fully competent and has no right to avoid the contract. Who will prevail? Why?