Asked by Kerri Lynn Eklund on Apr 28, 2024
Verified
Under the Revised Uniform Partnership Act partners owe each other loyalty.
Revised Uniform Partnership Act
An updated version of a law guiding the operation of partnerships in the United States, focusing on the management, financial aspects, and dissolution of partnerships.
Loyalty
A strong feeling of support or allegiance towards someone or something.
- Understand the commitments and duties shared among partners in relation to each other and the partnership.
Verified Answer
SA
saeed aijazMay 03, 2024
Final Answer :
True
Explanation :
Under the Revised Uniform Partnership Act (RUPA)partners owe to the partnership and each other the highest degree of loyalty.
Learning Objectives
- Understand the commitments and duties shared among partners in relation to each other and the partnership.