In any of the following cases, the court must make an order vacating the award, upon the application of any party to the controversy which was arbitrated.

(1)  When the award was procured by fraud.

(2)  Where the arbitrator or arbitrators exceeded their powers, or so imperfectly executed them, that a mutual, final, and definite award upon the subject matter submitted was not made.

(3)  If there was no valid contract, and the objection has been raised under the conditions set forth in § 37-16-13.