1. Murphy's Law states that "The best laid plans of mice and men / Often go awry." This refers to the idea that things can go wrong or not as planned despite one's best efforts or intentions. 2. The passage discusses different examples to illustrate Murphy's Law, including buttered toast usually landing buttered side down due to gravity, the unpredictability of which supermarket checkout line will be fastest, and the "gambler's fallacy" that past wins or losses can predict future probabilities in gambling. 3. While chance and probability can be calculated mathematically, real-world outcomes are often affected by extrinsic, unpredictable factors, which is the essence of Murphy's Law.