A partner in a partnership firm should make all attempts to take decisions that are in the best interest of the firm.This is related to the concept of _____.

Question

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In transacting partnership business,each partner owes a duty of care.This means that a partner must make an investigation before making a decision so that she has an adequate basis for making the decision.The decision she makes must be one she has grounds to believe is in the best interests of the partnership.

A Partner in a Partnership Firm Should Make All Attempts