Which one of the following statements best reflects the view taken in Australian law?
(a) The doctrine of privity of contract is based on the idea that a contractual obligation should be enforceable subject to the discretion of the court.
(b) The doctrine of privity of contract is based on the idea that a contractual obligation arises by agreement and therefore exists only between those persons who bound themselves by that agreement.
(c) The doctrine of privity of contract is based on the idea that only those persons who benefit from the performance of a contractual obligation will be allowed to bring a legal action to enforce it.