hi i have 45 mins left on my exam would u mind helping me with this multiple choice question, much appreciated

1) Which of the following are the duties of the agent?

a.

following P's instructions

b.

All of the given options are duties of the agent,

c.

making full disclosure of any personal interest and not to make any secret profit

d.

acting in good faith, which arises out of the fiduciary relationship

2) Conduct which creates a false impression about matters such as the price, value or quality of goods or services is termed as Misleading or deceptive conduct as per ACL. Which section of the ACL lists this information?

a.Section 18.

b.Section 15.

c.Section 21.

d.Section 26.

3) In the case of the liquidated damages, how are the damages calculated or decided?

Select one:

a.

A pre-estimated amount that a party will need to pay should be a breach of the contract. The amount is set excessively high to encourage the performance and deter the breach.

b.

Damages are negotiated and agreed upon by the parties following the breach.

c.

Damages are quantified by the courts followed by a breach.

d.

On the basis of a pre-estimated amount of damages (estimated at the time of entering into the contract) to be awarded in the event of a breach of contract occurring.

4) The courts may imply a term based on business efficacy where:

Select one:

a.

The parties have always agreed it before

b.

It is required by legislation

c.

It is necessary for the performance of the contract

d.

It is custom and practice in the industry

5) What does the insurance exception to the Doctrine of Privity of contract state?

Select one:

a.

The third-party may also enforce the contract if the insurance company agreed to confer the benefit to the third party under the insurance contract

b.

A contractual term that imposes an obligation on a third party is binding upon that party

c.

Only the parties to the contract may enforce it

d.

All of the given options state the exception