Solved

Which of the Following Is NOT a Fiduciary Duty Owed

Question 4

Multiple Choice

Which of the following is NOT a fiduciary duty owed by one partner to another?


A) Partners are bound to render true accounts and full information of all things affecting the partnership to any partner.When it comes to business of the partnership,partners do not keep information secret from one another.
B) Every partner must account to the firm for any benefit derived by him or her without the consent of the other partners from any transaction concerning the partnership or any use by him or her of the partnership property name or business connection.There shall be no secret benefits.
C) Every partner must disclose to every other partner any interest she or he has in any other partnership or corporation.
D) A partner must account for and pay over to the firm any profits made by him or her in carrying on any business of the same nature as that of the partnership and competing with the firm.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions