In addition to the duties and obligations set out in the partnership agreement, where one exists, partners owe to each other fiduciary duties. A fiduciary duty is a duty of the utmost good faith. The fiduciary duties are:
- To act honestly towards the other partners
- To act for the benefit of the partners as a whole
- Not to put themselves into a position where their duty to the firm and their own interests conflict
- To make full disclosure of any fact relevant to the partners
- Not to make an unauthorised personal profit