Gotham Partners, L.P. v. Hallwood Realty Partners, L.P.

VEASEY, Chief Justice:

In this appeal, we hold that a limited partnership agreement may provide for contractually created fiduciary duties substantially mirroring traditional fiduciary duties that apply in the corporation law. The Court of Chancery held that the limited partnership agreement here provided for such fiduciary duties by requiring the general partner and its controlling entity to treat the limited partners in accordance with the entire fairness standard. We agree with this holding and also agree with the trial court that the defendants are jointly and severally liable because the…