May be entered into by the parties without the leave of the Court and the same shall be valid because the parties have right to enter into an agreement or compromise as the case may be.

May be entered into without the leave of the Court but the same shall be voidable at the option of the parties. 

No agreement or compromise in a representative suit shall be entered into without the leave of the court but if any such agreement or compromise entered into without the leave of the court, the same shall be legal and valid because the parties have right to enter into an agreement or compromise as the case may be.