Which of the Following Is True of a Partner's Fiduciary

question 25

Multiple Choice

Which of the following is true of a partner's fiduciary duty?

• A) The RUPA's provision regarding the fiduciary duty is not exclusive,but leaves further development of the fiduciary duty of partners to the common law of agency.
• B) The RUPA provides that a partner does not violate the duty of loyalty merely because the partner's conduct furthers the partner's own interest.
• C) The fiduciary duty extends to the formation of the partnership,even when the parties are negotiating at arm's length.
• D) The duty not to compete continues for a reasonable time after dissociation.

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Definitions:

Long Run

A period of time in which all factors of production and costs are variable, allowing companies to adjust to market conditions.

Entrepreneurship

The process of designing, launching, and running a new business, often characterized by innovation and risk-taking.

Entrepreneurial Discovery

The process by which entrepreneurs identify new business opportunities and insights, leading to the creation or innovation of products or services.

Economic Growth

An increase in the capacity of an economy to produce goods and services, compared from one period of time to another.