Question

Duties of partners in business

Answer 1

Answer:

The following are some of the important duties of partners in a partnership.

*To observe good faith.

*To Indemnify for Loss.

*To Attend to his Duties Diligently.

*Not to Claim Remuneration.

*To Indemnify for Willful Neglect.

*To Share Losses.

*To Hold and Use Property of the Firm.

*To Account for Private Profits

Answer 2

Answer:

To observe good faith.

To Indemnify for Loss.

To Attend to his Duties Diligently.

Not to Claim Remuneration.

To Indemnify for Willful Neglect.

To Share Losses.

To Hold and Use Property of the Firm.

To Account for Private Profits.

To Account for the Profits of a Competing Business.

To Act within Authority.

Not to Assign his Rights.

Explanation:

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