1.B
Third parties need not have been in existence when the contract was formed but must be expressly identified in the contract. The Act does not confer rights to third parties in respect of a company's constitution or employment contracts.
2. D
Parties in social, domestic and family agreements are presumed not to intend to be legally bound, but this presumption is rebuttable. Parties in commercial contracts are presumed to intend to be legally bound but this presumption is rebuttable. With regard to rebutting either presumption, the burden of proof is on the party seeking to escape liability.
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