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Flashcards in Fiduciary Duties Deck (3)
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1

General fiduciary duties of partners

Partners have fiduciary duty to each other and to the partnership - duty of care and duty of loyalty

2

Duty of care

Owe partnership a duty of care in the conduct and winding up of the business

3

Duty of loyalty

Includes duty of good faith, duty not to compete, duty to not exploit a partnership business opportunity, duty to disclose, and duty to account