The Purpose of the Frustrated Contracts Acts of NSW and S.A.is

question 29

Multiple Choice

The purpose of the Frustrated Contracts Acts of NSW and S.A.is to:

• A)Imply terms into the contract to govern the circumstances which have occurred.
• B)Abolish the doctrine of frustration.
• C)Adjust the rights of the parties so that there will be a fairer outcome.
• D)Render all contracts enforceable despite the occurrence of a frustrating event.

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Definitions:

Intersection

In mathematics, it refers to the set of elements common to two or more sets.

Posterior Probabilities

Probabilities that are updated or revised after taking into account new evidence or information.

Bayes' Theorem

A mathematical formula that describes how to update the probabilities of hypotheses when given evidence.

Multiplication Law

A probability rule that determines the likelihood of two independent events occurring together by multiplying their individual probabilities.