A partner owes to the partnership and the other partners a duty of loyalty.

Question

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This is a basic principle of partnership law. A partner has a fiduciary duty of loyalty to the partnership and its partners, which requires them to act in the best interests of the partnership and not to engage in any activity that would harm the partnership or other partners. This duty requires partners to avoid conflicts of interest and to disclose any potential conflicts to the other partners. Failure to fulfill this duty can result in legal action against the partner, including claims for breach of fiduciary duty or partnership dissolution.

A Partner Owes to the Partnership and the Other Partners