The Texas Supreme Court has provided clarity on the fiduciary duties between business partners, particularly in the context of limited partnerships. The Court’s opinion addressed the complex issue of whether a limited partner can assume fiduciary duties to other limited partners by acting as a general partner. The Court explained that limited partners generally do not owe each other fiduciary duties. The court emphasized that any fiduciary duty a limited partner could owe to another limited partner would have to be based on actions outside the realm of the limited partner’s position.
