Which of the following is a violation of the fiduciary duty of a partner?
A)Where one partner carries on a business unrelated to the partnership with the permission of the partners
B)Where a partner uses the partnership property for partnership business
C)Where one partner learns of an investment opportunity in the field of the partnership and tells the partners.The partners decline on the opportunity, so he takes advantage of it himself.
D)Where one partner uses information that he has gained from the partnership for the advantage of the partnership
E)Where one partner starts another business, without the consent of the other partners, that is the same as or in competition with the partnership business

Question

Quizplus · Accepted Answer

Starting another business without the consent of the other partners that is the same as or in competition with the partnership business violates the fiduciary duty of loyalty that partners owe to each other. It creates a conflict of interest and could cause harm to the partnership.

Which of the Following Is a Violation of the Fiduciary