Which of the Following Is a Violation of the Fiduciary

question 138

Multiple Choice

Which of the following is a violation of the fiduciary duty of a partner?

• A) Where one partner uses information that he has gained from the partnership for the advantage of the partnership
• B) Where a partner uses the partnership property for partnership business
• C) Where one partner carries on a business unrelated to the partnership with the permission of the partners
• D) When one partner starts another business that is the same as or in competition with the partnership business without the consent of the other partners
• E) Where one partner learns of an investment opportunity in the field of the partnership and tells the partners, but the partners decline on the opportunity so he takes advantage of it himself

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Definitions:

Acquisition

In classical conditioning, the initial stage, when one links a neutral stimulus and an unconditioned stimulus so that the neutral stimulus begins triggering the conditioned response. In operant conditioning, the strengthening of a reinforced response.

Encoding

The process of getting information into the memory system—for example, by extracting meaning.

Recognition

A measure of memory in which the person identifies items previously learned, as on a multiple-choice test.

Recall

The ability to access information or memories that have been previously encoded and stored in the brain.