152.206 – PARTNER'S DUTY OF CARE. (a) A partner's duty of
Texas Business Organizations Code § 152.206
Summary
This law outlines the duty of care that partners owe to their partnership and fellow partners, requiring them to act with the prudence of an ordinarily careful person. It clarifies that making an error in judgment alone does not breach this duty, and partners can be presumed to meet this duty if they act on informed decisions.
Partners must act with ordinary prudence in business matters.
Errors in judgment do not automatically breach the duty of care.
Informed actions can presume fulfillment of the duty of care.
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In simple terms: Learn about Texas's PARTNER'S DUTY OF CARE. (a) A partner's duty of law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
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