When we speak of partners’ duties to account for partnership profits, to not compete with the partnership, and to not take opportunities that belong to the partnership for individual personal benefit, we are referring to

a. the duty of loyalty

b. the duty of care

An important objective of a Statement of Partnership Authority is to

a. allow for a partner to deny any facts asserted regarding partnership authority

b. inform the world that a person is no longer a partner in the partnership

c. facilitate the transfer of real property held in the name of the partnership

d. provide a basis for legal liability in tort where an employee or agent commits a wrongful act

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