Question

According to the principle of indemnification in partnership law, what obligation does a partner have if they commit fraud in the conduct of the firm's business?

A The partner must personally compensate for any losses incurred by the firm, but not for losses due to fraud
B The partner is exempt from indemnifying the firm if the fraud was unintentional
C The partner must indemnify the firm for any loss caused by their fraud in the conduct of the business
D The partner's liability for fraud is limited to the amount of their investment in the firm
E The partner is not liable for any losses caused by their fraud if the fraud was committed for personal gain
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