Read the following case studies and answer the questions. Be sure touse the appropriate legal terminology that you learned this week.Case Study 1Steve and Bill go out drinking. After Steve has had so many drinksthat Bill knows (or should know) that Steve is very intoxicated, Stevesays to Bill, ‘I’ll sell you my house for $100,000.’ Bill accepts. Thefair market value of Steve’s house is $100,000. Will Steve be able toavoid this transaction? Why or why not?Case Study 2Steve writes a letter to Bill one day saying, ‘I will sell you myhouse for $100,000.’ Completely unbeknownst to Bill, at the time Stevewrote the letter he was utterly intoxicated. The fair market value forthe house is $100,000. Will Steve have to sell his house to Bill? Why orwhy not?Case Study 3Mary, a longtime law professor, has been entering into quite a fewcontracts in recent months. One of those contracts was for the purchaseof a riding lawn mower. Unbeknownst to the sales clerk who entered Maryinto the contract, Mary is suffering from Alzheimer’s, but has not beendeemed incompetent by the state. On the day of delivery, the sales clerkdelivers the lawn mower to Mary’s apartment. Mary is surprised by thedelivery of the mower and has no recollection of ordering it. The clerkshows her the contract. Is this contract voidable and why?