Partnerships – Episode 5: Fiduciary Duties

This episode examines fiduciary duties in general partnerships under the Revised Uniform Partnership Act (RUPA). It introduces the core duties of loyalty and care, including specific obligations such as avoiding conflicts of interest, refraining from self-dealing, and exercising reasonable diligence in decision-making. The episode also discusses the obligation of good faith and fair dealing as a baseline standard in partner conduct. Practical examples illustrate how these duties operate in business settings and what conduct may constitute a breach. It concludes by explaining how partnership agreements can modify, but not eliminate, fiduciary duties, and outlines the legal remedies available for breach.