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Contract modification of fiduciary duty

Court Holds Partnership Fiduciary Duties Modified by Contract

In a reported opinion issued August 26, 2008 in Clancy v. King, the Maryland Court of Appeals further clarified the modification of partnership fiduciary duties. The Court held that fiduciary duties in a limited partnership can be contractually limited under Maryland law. This matter stemmed from on-going disputes between author Tom Clancy and his ex-wife over continuing business interests.

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