Partnership agreements often include provisions that excuse partners from liability if they act in good faith and with the honest belief that their actions are in the best interests of the...

Extracted text: Partnership agreements often include provisions that excuse partners from liability if they act in good faith and with the honest belief that their actions are in the best interests of the partnership. Such a provision is designed to Multiple Choice support honest partnership practices, regardless of whether the risk is reasonable encourage honest partners to take reasonable business risks without fearing liability promote the formation of partnerships eliminate any individual partner liability