Which partnership contract is considered valid among the options listed?

Prepare for the Partnership Law Exam. Study with flashcards and multiple choice questions, each question has hints and explanations. Get ready for your exam!

The choice of a particular partnership between husband and wife is considered valid because, under partnership law, individuals can form partnerships for specific ventures and purposes. Such partnerships allow for shared management and profits of the undertaken business, reflecting the mutual intent of the parties involved.

In the context of partnerships, a particular partnership is focused on specific designated ventures or transactions rather than encompassing all property or profits, which provides clear boundaries and responsibilities for each partner. Since there are no legal restrictions preventing husband and wife from entering into a partnership for a specific purpose, this type of partnership is deemed valid.

Other options may face various legal constraints or issues. For example, a universal partnership of all present property between husband and wife may raise questions about the legality of such arrangements under marital property law, depending on the jurisdiction. Similarly, a universal partnership of profits between unmarried partners can be problematic as many jurisdictions impose limitations on the recognition of such partnerships without formal agreements. Lastly, a universal partnership of profits between a public officer and a private individual would likely be deemed invalid due to legal prohibitions against partnerships that might create conflicts of interest or violate public policy.

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