A ________ is the obligation partners owe to use the same level of care and skill that a reasonable person in the same position would use in the same circumstances.

Question

Quizplus · Accepted Answer

The duty of care is the obligation partners owe to use the same level of care and skill that a reasonable person in the same position would use in the same circumstances. The duty to perform relates to a partner's obligation to carry out the terms of the partnership agreement, the duty to inform relates to a partner's obligation to share relevant and necessary information with the other partners, and the duty of obedience relates to a partner's obligation to follow the partnership agreement and decisions made by the partnership.

A ________ Is the Obligation Partners Owe to Use the Same