Mr Ong agreed to transfer their matrimonial home to Mrs Ong as part of their divorce settlement but he later changed his mind. Which of the following statements isTRUEabout the contract between the two parties?

Question 4 options:

1)

The contract is not enforceable since it is a social domestic agreement between husband and wife.

2)

The contract will not be enforceable unless the parties had signed a written agreement.

3)

The contract is enforceable because it is a commercial agreement and the law presumes that the parties have the intention to be bound.

4)

The contract is enforceable as the presumption that parties did not have the intention to create legal relations had been rebutted since the parties were no longer in love when they entered into the contract.