Mary and Denise own an ice cream shop together. Both contributed about $10,000 to open up the shop and cover some of the initial expenses, and both split the net profits each month after expenses. Mary decides that she wants to start a nail salon with another friend, and starts using some of the money earned from the ice cream shop to fund the new venture. Which of the following is true concerning Mary's conduct?

Question options:

a)

Mary's failure to notify Denise of the other business is a violation of her fiduciary duties to the partnership

b)

Mary is free to do what she wants because Mary and Denise are merely limited partners in the ice cream store

c)

Denise will be liable for Mary's acts and omissions with the nail salon

d)

Absent a contractual obligation, Mary's does not violate any obligation to Denise