[This question paper contains 6 printed pages.

7858 Your Roll No.

LL.B. I III Term E

Paper LB-3031 : BUSINESS ASSOCIATION - I

Time : 3 Hours Maximum Marks : 100

(Write your Roll No. on the top immediately

on receipt of this question paper.)

Note :- Answers may be written either in English or in Hindi;

but the same medium should be ·used throughout the
paper.

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Attempt any Five questions.

All questions carry equal marks.

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1. "Sharing of profits is only a prima facie evidence of

the existence of Partnership while conclusive test is
that of mutual agency." Comment.

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2. (a) "Partners are bound to carry on a business of the

firm, to the greatest common advantage to be
just and faithful to each other and to render true
accounts and full information of all things affecting
the firm or any partner or his legal representation."
Discuss the above duties vis-a-vis rights in
partnership firm .

. (b) X, Y and Z are partners in a firm. X with

consent of Y only transferred his interest in
the firm to A. What are the rights of A against
Z?

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.). ·'Generally a no;:, panne1 -.;ar. noi oc made iiabie fo1

an act of the firm."

Discuss with case law where the liability of a non

partner can arise as a partner.
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4. (a) Discuss the 'Implied Authority' of a partner.

How far is the firm liable for the wrongful acts of
a partner which resulted in loss to the third
parties ?

(b) A partner carrying on a business of banking was

convicted for travelli~g without ticket whether the
firm is liable to be dissolved?

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5. What are the grounds on which a court can order for

dissolution of a partnership firm? Does dissolution
result in winding up of partnership ?

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6. (a) Who may be an agent? What are his liability?

How agency can_ be terminated ?

(b) A without authority of B lands money to C.

Afterwards B accepts interest on money from C.
Can B later dis-own the landii].g of money by A to
B? Discuss?

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7. What is the need of passing limited liability Partnership

Act, 2008. Distinguish between partnership and limited
liability Partnership.

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8. Write notes on any two of the following:

(a) Position of Minor under the Partnership Act,

1932.

(b) Effects of non registration of partnership firm.

(c) Distinguish between partnership & company.

(d) Retirement of a Partner.

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(1900)