Multiple choice

The successful working of a partnership depends upon mutual confidence and utmost good faith.

  1. True

  2. False

  3. Partly true

  4. Cannot say

Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Partnerships indeed depend on mutual confidence and utmost good faith (uberrima fides). Unlike corporations, partnerships are fundamentally relationships of trust - each partner must act honestly toward the others.