Option (1) is incorrect: It is not a voidable agreement.
Option (2) is correct: Under Section 2 of the Indian Contract Act, 1872, every promise and every set of promises, forming the consideration for each other, is an agreement. Hence, the given agreement is void from the beginning.
Option (3) is incorrect: It is not enforceable in the court of law.
Option (4) is incorrect: Not enforceable at all, whether in writing or in oral.