Which of the following describes fiduciary duties in a partnership?

Fiduciary duties in a partnership primarily encompass the duty of loyalty and the duty of care that partners owe to one another. These duties are fundamental to maintaining trust and integrity within the partnership relationship. The duty of loyalty requires partners to act in the best interests of the partnership and to avoid self-dealing or conflicts of interest that could harm the partnership. The duty of care obliges partners to make informed decisions and take reasonable care when managing the partnership's affairs.

This commitment to act in good faith and with a high level of accountability is essential for collaboration and for achieving the shared goals of the partnership. Understanding these fiduciary duties helps partners navigate their relationships and operational roles effectively, contributing to the partnership's overall success and stability.