SECTIONS 720-721 - California Statutes

FAMILY.CODE

SECTION 720-721

720. Husband and wife contract toward each other obligations of
mutual respect, fidelity, and support.

721. (a) Subject to subdivision (b), either husband or wife may
enter into any transaction with the other, or with any other person,
respecting property, which either might if unmarried.
(b) Except as provided in Sections 143, 144, 146, 16040, and 16047
of the Probate Code, in transactions between themselves, a husband
and wife are subject to the general rules governing fiduciary
relationships which control the actions of persons occupying
confidential relations with each other. This confidential
relationship imposes a duty of the highest good faith and fair
dealing on each spouse, and neither shall take any unfair advantage
of the other. This confidential relationship is a fiduciary
relationship subject to the same rights and duties of nonmarital
business partners, as provided in Sections 16403, 16404, and 16503 of
the Corporations Code, including, but not limited to, the following:
(1) Providing each spouse access at all times to any books kept
regarding a transaction for the purposes of inspection and copying.
(2) Rendering upon request, true and full information of all
things affecting any transaction which concerns the community
property. Nothing in this section is intended to impose a duty for
either spouse to keep detailed books and records of community
property transactions.
(3) Accounting to the spouse, and holding as a trustee, any
benefit or profit derived from any transaction by one spouse without
the consent of the other spouse which concerns the community
property.