About | HeinOnline Law Journal Library | HeinOnline Law Journal Library | HeinOnline

LOG IN
LOG IN


54 Wash. & Lee L. Rev. 877 (1997)
Cadwalader, RUPA and Fiduciary Duty

handle is hein.journals/waslee54 and id is 891 raw text is: Cadwalader, RUPA and Fiduciary Duty Donald J. Weidner* Table of Contents I. Introduction ................................ 878 II. The Cadwalader Scenario: Under the UPA ........... 878 A. The Facts ............................... 878 B. Judge Cook's Analysis ...................... 880 C. Expulsion Pursuant to Agreement ............... 882 D. The Right to Dissolve and Reform .............. 885 E. At-Will Partnerships and Specific Understandings .... 886 F. Post-Dissolution Rights and Duties .............. 887 1. Accounting for Assets and Other Expectations .... 889 2. Bad Faith Dissolutions of At-Will Partnerships .... 892 3. The Powerful Liquidation Right ............. 897 4. Negotiating in Good Faith ................. 897 II. RUPA's Fiduciary Duty and Related Rules ............ 899 A. Introduction ............................. 899 B. Nine Fiduciary Duty Rules ................... 900 C. The Obligation of Good Faith and Fair Dealing .....-. 908 D. Information Rights ......................... 910 IV. Cadwalader Revisited Under RUPA ................ 912 A. RUPA's Basic Policies Are Unchanged ........... 912 B. Amendment and Ratification .................. 914 1. Subsequent Amendment to Authorize Expulsion ... 915 2. Ratification by Interested Partners ............ 917 C. Wrongful Dissociation ...................... 919 V. Conclusion ................................ 920 * Professor, Florida State University College of Law; Reporter, Revised Uniform Partnership Act (1994). The author wishes to express his appreciation to Barbara A. Banoff, Robert W. Hillman, John W. Larson and Allan W. Vestal for their helpful comments, and to his research assistant, William L. Martin, for his many contributions. Copyright 0 1997 by Donald J. Weidner.