First Principles of Business Law
Business organisations in Australia

5. Partnerships

Question 12. Do partners owe each other duties based on notions of 'good faith'?

 

 

 

Read the statements below and select the best one.

(a) Partners have a relationship that inescapably requires that they trust and rely on each other. Accordingly, they owe each other a duty of good faith.

(b) A partnership is a commercial relationship, and in such relationships the parties deal at arms length, not on the basis of trust. Accordingly, partners do not generally owe each other a duty of good faith.

 

 

 

 

 

 

 

 

  

 

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