What is the Ley de Faraday?

I- It relates the rate of change of magnetic flux passing through a loop with the magnitude of the induced electromotive force (EMF) in the loop.
II- It establishes that the direction of the current flow is always such that it opposes the change in flux that produces it.
III- It is a consequence of the principle of conservation of energy applied to electromagnetic induction.
a) Only I is correct.
b) Only II is correct.
c) Only III is correct.
d) I, II and III are correct.