Under common law the legal effect of frustration of a contract means that:
A) the parties are released from all obligations under the contract but the parties retain their legal rights.
B) the parties are released from all obligations and rights under the contract from the time of the frustrating event.
C) the parties are released from all rights but still have obligations under the contract.
D) the parties are released from all obligations and rights under the contract.
Correct Answer:
Verified
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