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1.The Contracts (Rights of Third Parties) Act 1999 sets out the circumstances where a third party has a right to enforce rights they may have under a contract.
Which of the following statements concerning the Contracts (Rights of Third Parties) Act 1999 is correct?
A The third party need not be expressly identified in the contract
B The third party need not be in existence when the contract was formed
C The Act confers rights to third parties under a company's constitution
D The Act confers rights to third parties under employment contracts (2 marks)
2.Which of the following is true regarding presumptions of intention to create legal relations?
A Parties in social, domestic and family agreements never intend to be legally bound
B Parties in commercial agreements never intend to be legally bound
C The presumption in all agreements is that the parties intend to be legally bound
D Any presumptions in regards to the intention of parties to be legally bound may be refuted and the burden of proof is on the party seeking to escape liability