Venardos and Aaberg agreed to enter into a partnership to farm kangaroos for their meat and pelts.Aaaberg agreed to pay Venardos $30 000 for a half share in the business.Venardos told Aaaberg that this amount mostly represented the cost of buying the kangaroos.Venardos did not tell Aaaberg that the he had not paid anything for the kangaroos, but had in fact simply saved them from being shot by a farmer who regarded them as a pest on his land and was glad to see them gone.Has Venardos breached any of his fiduciary duties to Aaaberg?

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Venardos breached his fiduciary duty to Aaaberg by not disclosing the true value of the kangaroos and misleading him into paying an amount that did not reflect the actual cost of the business. As a partner, Venardos had a duty to act in good faith and loyalty towards Aaaberg and not to use his position for personal profit at the expense of his partner. The doctrine of caveat emptor does not apply in this case as it only applies to transactions where the buyer has the responsibility to investigate and assess the value of the goods being sold. Additionally, the Australian Consumer Law may not be applicable as this is a private commercial transaction between two individuals and not a transaction between a business and consumer.

Venardos and Aaberg Agreed to Enter into a Partnership to Farm