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Fiduciary Obligations of Partners<br />
� Facts<br />
Meinhard v. Salmon<br />
� The 1902 agreement: How Salmon and Meinhard shared<br />
responsibilities<br />
� The 1921 opportunity (offered by Gerry)<br />
� Questions<br />
� Why is Meinhard a partner and not a lender (compare to Martin v.<br />
Peyton)?<br />
� Does Cardozo conclude that Salmon has to inform Meinhard about the<br />
opportunity?<br />
� Does Cardozo conclude that Salmon has to share the opportunity with<br />
Meinhard? What language might be relevant to this question?<br />
� What hypothetical changes in the current or future project might have<br />
made the new project seem beyond the scope of the partnership?<br />
(c) 2004 39
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