Peter, Collin and Victor form a general partnership to develop property. They have a lawyer...
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Peter, Collin and Victor form a general partnership to develop property. They have a lawyer draft a partnership agreement. The partnership agreement specifies that acts of partners are limited to those necessary to accomplish the partnerships purpose. Sometime later, Peter, who is pursuing his own personal interests, losses $250,000 of the partnerships funds in commodities trading.
Has Peter breached his duty of loyalty towards Collin and Victor? (Business Law and Ethic )
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