Which of the following are included within the duty partners hold to one another to be loyal?

Which of the following are included within the duty partners hold to one another to be loyal?
Select one:
a. The duty of care.
b. The duty of obedience.
c. The fiduciary duty to other partners, the duty of obedience, and the duty of care.
d. The fiduciary duty to other partners.

Answer

• c. The fiduciary duty to other partners, the duty of obedience, and the duty of care.
  Explanation:
  Partners in a partnership have duties to each other as well as the partnership. These duties are commonly known as fiduciary duties.

• Fiduciary duty include
• the duty of care,
• duty of loyalty,
• duty of obedience
• duty of good faith and fair dealing.

A partner must refrain from gross negligence, and refrain from competing with the partnership. The duty to account to partnership, and inform the co-partners. The partners are supposed to act in a manner that is consistent with the purpose and mission of the partnership.

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