What are the best choices among the three?

IF A CONTRACT CONTAINS EITHER AN EXPRESS OR IMPLIEDCONDITION SUBSEQUENT, AND IF THE SPECIFIED CONDITIONTHEREAFTER DOES OCCUR, THIS MEANS THAT BOTH PARTIES:

A.) MUST NOW GO AHEAD AND PERFORM THEIR OBLIGATIONS

B.) ARE NOWFREED OF THEIR OBLIGATIONS UNDER THE CONTRACT

C.) ARE NOW FREED OF THEIR OBLIGATIONS IF-AND ONLY IF-THEY MUTUALLY AGREE TO CANCEL THE CONTRACT