Utmost good faith, Business Law and Ethics

Utmost Good Faith

Whether a partnership is such contract of the chief good faith. Every one partner is entitled for utmost gaviness rom his co-partners. Therefore this equitable principle is manifested into the subsequent ways. Like;

  • A partner must mot with no the other partners engage in such any business in direct competition within the firm's business. And one is
  • A partner can just only be expelled commencing the firm in good faith and one is
  • Any secret profit made have be accounted for the firm and one is
  • A partner must disclose various personal interest in such contracts entered in on behalf of the firm also.
Posted Date: 1/30/2013 7:17:47 AM | Location : United States

Related Discussions:- Utmost good faith, Assignment Help, Ask Question on Utmost good faith, Get Answer, Expert's Help, Utmost good faith Discussions

Write discussion on Utmost good faith
Your posts are moderated
Related Questions
Q. Indicator based definition of phoenix activity? Many stakeholders emphasised the importance of educating the community about the signs or indicators of phoenix activity. A d

FutureEd corp., a Bangladesh based catering company has decided to extend its catering business in the main divisional cities. They have come up with the decision to open up some r

Irene walked into a store carrying a bottle of soda she had purchased a few days earlier. While in the store, she opened the bottle of soda and was drinking it while she

Formation of Contract - Law of Contract However a legally binding agreement prepared between two or persons or more parties.  Whereas it has also been explained as a promise o

What are remedies available under equity law? Remedies available under equity law are as given below: • Exact performance (forced to execute task) • Injunction (stopped t

Disadvantages of Stare Decisis - Rigidity However the case law method of administration of justice has been criticized on the grounds which it leads to rigidity because the di

Question 1: What are the procedures that an employer should follow before he will dismiss a worker for misconduct? Question 2: Section 39 of the Labour Act provides fo

QUESTION 1 Arbitration is an overriding condition in all business contracts. Without a clause for arbitration business relationship is bound to suffer. Critically examine this

Consideration - Element of Contract Just to an agreement to constitute a contract the common law of the England then adopted in the US, requires such, must be supported with c

Relationship of Partners Inter Se Whether various terms are in utilize to denote the different specification of partners.  Then the most central of these terms are like: (