Question 1 (7 marks): You are a new associate lawyer at the law firm of Able Arguers LLP ("AA"), a corporate law firm in Vancouver. It is June 2020, and a partner at AA calls you into his office with the following request:

Hey, you're a new associate here, right? Listen, I'm getting a ton of calls from my clients, all of whom are small business owners. Many of them have read about frustration in the news and they're wondering if COVID-19 is a frustrating event in the various contracts that they are a party to - contracts like supplier contracts, lease contracts for the space they rent to operate their business, contracts with consumers, and so forth. Write me a one-page memo on this topic so that I can provide some preliminary answers to my clients. Thanks!