What Is the Effect of a Frustrating Event Upon the Obligations

Multiple Choice

What is the effect of a frustrating event upon the obligations of the parties to a contract?

A) The contract becomes voidable by either party,and until one of the parties voids the contract it is valid and enforceable.
B) The contract is void from the frustrating event and any obligations arising before the frustrating event must still be fulfilled.
C) The contract is void ab initio ('from the beginning') ,the parties are to be restored to their original positions,and any payments already made refunded to the payer.
D) Each party is still obliged to fulfil their obligations under the contract as if the frustrating event had not occurred.