Within a partnership, each partner owes the duty of absolute honesty and integrity in their dealings with other partners. Often, however, one partner will try to benefit themselves at the expense of other partners, thereby breaching their fiduciary duties. Almost any activity whereby one partner receives an outsized benefit over another is suspect under the law. The various forms of such abuse are too numerous to list. Examples include when partners:
- Hide money or assets that belong to a partnership;
- Negotiate agreements with others that are more favorable to one partner than another;
- Take for opportunities that the partnership could exploit;
- Sell assets of the partnership in a way that benefits one partner more than another;
- Do anything where all partners are not treated equally.
Injured partners have the right to recover all money they have lost as a result of such unlawful treatment, plus interest, plus attorney fees. If you have a concern that you have been treated unfairly, please Click here for an evaluation of your case..
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