Answer :
Final answer:
Partners in a business partnership are fiduciaries to each other, bound by duty of loyalty and care. Sharing responsibilities and profits reinforces trust among partners and facilitates a collaborative business environment.
Explanation:
Fiduciaries in a partnership have a duty to act in the best interests of their fellow partners, just like a stockbroker does for their client. This duty includes loyalty and care towards the partners involved.
Partnerships involve sharing both responsibilities and profits among the partners, fostering a sense of trust and shared goals in the business relationship.
Understanding the concept of fiduciary relationships is crucial in business to ensure ethical and responsible decision-making among partners.
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