Mumbai University Solved Question Papers
Contract II
Previous Year Question Paper with Solution
BLS LLB 5 Years · Sem 8
Jun 2023 - 60/40 Examination
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BLS LLB 5 Years Sem 8 Contract II Jun 2023 - 60/40 Question Paper with Solutions
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First published on munotes.in on 24 October 2026.
This edition revised 26 October 2026.
Published by munotes.in, Mumbai.
Model answers written and edited by the munotes.in editorial desk.
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The University does not publish an official answer key for this paper. The answers in this volume are model answers, written to show how a full-mark answer is built. They are a study aid, not an authority on what an examiner marked.
The question paper reproduced here is the paper as set by the University of Mumbai at the Jun 2023 - 60/40 examination.
Contents
The questions below are the paper as the University of Mumbai set it at the Jun 2023 - 60/40 examination, in the order it was set.
MarksPage
MarksPage
The Paper as Set
The questions in this volume are the questions asked at the Jun 2023 - 60/40 examination, reproduced as the University of Mumbai set them, in the order it set them. Nothing has been reworded, added or left out. Only the answers are ours. See the original question paper.
Duration 2 hours · Total marks 60 · 22 questions answered
How to use this volume
Solve the paper first, under exam conditions and against the clock. Then read the answers here and mark your own. Reading a solution before attempting the question feels productive and teaches very little, because recognising an answer is not the same as being able to write one.
Q.1
Q.1: Answer any SIX of the following questions in 2-3 sentences
12 Marks - 2 marks each
(1)State the essentials of partnership.[2]
Answer
Section 4 of the Indian Partnership Act, 1932 defines partnership as "the relation between persons who have agreed to share the profits of a business carried on by all or any of them acting for all". It gives five essentials: an agreement, between two or more persons, to carry on a business, to share its profits, with mutual agency.
- An agreement. Partnership arises from contract, not from status (section 5). A Hindu undivided family carrying on a family business is not a partnership for that reason alone.
- Two or more persons, competent to contract.
- A business, which "includes every trade, occupation and profession" (section 2(b)).
- Sharing of profits. The agreement must be to share the profits of the business.
- Mutual agency. The business must be carried on by all, or any of them acting for all. Each partner is both an agent and a principal of the others.
K. D. Kamath & Co. v. Commissioner of Income-tax, (1972) 1 SCR 1034. A six-partner deed left all management to one partner, and the tax authorities said there was no partnership. The Supreme Court stated the two legal requirements. There must be an agreement "to share the profits or losses of the business". And the business must be carried on by all or any of them acting for all. Both were present, so the firm was a genuine partnership.
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