Which of the Following Is a Violation of the Fiduciary

question 13

Multiple Choice

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

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

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Definitions:

Unknown Person

refers to an individual whose identity is not known or cannot be established at a given time.

Infants

Young human children, particularly from birth to one year of age, characterized by rapid physical and cognitive development.

Informational Influence

A reason for conformity based on people’s desire to be correct.

Conformity

The act of matching attitudes, beliefs, and behaviors to group norms, policies, or societal expectations.