Partnership Lawsuits: The Duty of Loyalty
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Partnership Lawsuits: The Duty of Loyalty

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Business litigation attorneys who handle partnership lawsuits are often called upon to handle breach of loyalty claims between partners.

Business litigation attorneys who handle partnership lawsuits are often called upon to handle breach of loyalty claims between partners.

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Partnership Lawsuits: The Duty of Loyalty Partnership Lawsuits: The Duty of Loyalty Document Transcript

  • Partnership Lawsuits: The Duty of Loyalty Business litigation attorneys who handle partnership lawsuits are often called upon to handle breach of loyalty claims between partners. Partnership lawsuits often involve a claim that one of the partners has been treating the partnership as his own personal fiefdom or bank account to the detriment of the partner or partners. Partners (and Members in Limited Liability Companies) have obligations to each other which each partner should be aware of. A Partnership Is A Fiduciary Relationship Business attorneys should make sure that their partner clients recognize that, in the partnership, partners are bound to act in the highest good faith to their partners and may not obtain any advantage over them in the partnership affairs by misrepresentations, concealment, threats or adverse pressure of any kind. Self-Dealing By A Partner Partnership litigation often arises from what is called “self-dealing”. A partner may not exploit a partnership opportunity for his own personal benefit and to the detriment of his partners. The court has labeled this “dishonest dealing”. Wagenseller Law Firm 523 W. 6th St., #716 Los Angeles, CA 90014 Phone: (213) 286-0371 www.wagensellerlaw.com View Source Real estate litigation Los Angeles