Consider the following statements.
(1) The Arbitral Tribunal cannot rule on its own jurisdiction.
(2) Oral arbitration agreement is enforceable.
(3) The parties may choose med-arb as the procedure for settlement of their dispute.
(4) There must be a pre-existing written agreement of arbitration for dispute settlement by arbitration.
Which of the above statements is/are correct?
A. 3 and 4
B. 1, 2, 3 and 4
C. 4
D. 1, 2 and 3
Answer: Option A
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