Competing with the partnership without the permission of other partners violates a general partner's ________.

Question

Quizplus · Accepted Answer

The duty of loyalty is a general partner's obligation to act in the best interests of the partnership and not compete with the partnership without the other partners' consent. This duty is a fundamental principle of partnership law and is essential for maintaining the trust and cooperation among partners necessary for the partnership's success. The duty of loyalty requires that a general partner avoid any self-dealing, conflicts of interest, or other actions that could harm the partnership.

Competing with the Partnership Without the Permission of Other Partners