In which category does acting in good faith fall under for partners in a partnership?

Acting in good faith falls under the category of fiduciary duty in a partnership. Partners in a partnership are bound by fiduciary duties, which require them to act in the best interests of the partnership and their fellow partners. This includes the obligation to be honest and transparent in all dealings related to the partnership, as well as avoiding conflicts of interest.

Fiduciary duty encompasses the principles of loyalty and care, emphasizing that partners must prioritize the partnership's welfare over their own personal interests. Therefore, acting in good faith is intrinsically linked to the duty partners owe one another to act responsibly and ethically, ensuring the partnership functions smoothly and fairly. This contrasts with legal responsibilities, which are more about compliance with laws; contractual obligations, which involve specific terms agreed upon in a partnership agreement; and business ethics, which represent broader standards of conduct in business but do not specifically define the internal duties among partners.