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Faith, State of Mind, and the Outer Boundaries of Director Liability in Corporate Law, 41 WAKE FOREST L. REV. 1131 (2006); Melvin A. Eisenberg, The Duty of Good Faith in Corporate Law, 31 DEL. J. CORP. L. 1 (2006) [hereinafter Eisenberg, Duty of Good Faith]; Andrew S. Gold, A Decision Theory Approach to the Business Judgment Rule:
- Introduction
- I. The Problem of Definition
- II. The Animating Forces of Fiduciary Duties
- III. Understanding The Purpose of The Fiduciary Concept
- Conclusion
- Annex
Why is the fiduciary concept so difficult to understand? After all, its history in English law dates back more than three hundred years and its philosophical and doctrinal origins reach back even farther. Fiduciary principles in common law jurisprudence predate even the seminal case of Keech v. Sandford1×1. [1726] EWHC Ch J76, Sel Ca t King 61, 25 ...
A. The Uncertainty of the Fiduciary Concept
Commentators in jurisdictions like Canada, the United States, England, Australia, and New Zealand routinely discuss the fiduciary concept in relation to a wide variety of scenarios.12×12. Fiduciary law has been applied, inter alia, to the relations between: parent and child; guardian and ward; doctor and patient; director or officer and corporation; tax adviser and client; partners; joint venturers; friends; Aboriginal band and Crown; former spy and government; army officer and government; li...
B. The Function and Purpose of the Fiduciary Concept
The mutability of fiduciary principles allows for their application to a wide variety of disparate fact situations and equally broad variety of interactions, but simultaneously renders the fiduciary concept inimical to precise definition. Many have attempted to define the fiduciary concept,27×27. See supra, note 23, Annex.Show morebut capturing its true nature has remained elusive. The best explanation for the failure to formulate an adequate definition of the fiduciary concept rests, perhaps...
The section that follows outlines the “essential fiduciary points of emphasis” that illustrate what is necessary to the practical implementation of the fiduciary concept and what ultimately separates it from other legal doctrines (Part II-A). This section seeks to render more concrete the more philosophical discussion of the fiduciary concept that ...
A. Focusing on the “Big Picture”
As has previously been suggested, the fiduciary concept is the purest doctrinal expression of equity. It proudly exhibits a strong ethical focus that draws from its historical connection to Canon law as well as its roots in traditional notions of conscience.148×148. See Rotman, Fiduciary Law, supra note 2 at 176–80.Show more Unlike the traditional bases of civil obligations, which exist primarily to foist liability upon wrongdoers and award relief to aggrieved persons, the fiduciary concept f...
B. Meinhard v. Salmon: Illustrating Fiduciary Purpose
The landmark case of Meinhard is likely the most famous case involving the application of fiduciary principles, surpassing even the seminal case of Keech. It is also one of the leading business law cases in American law. Beyond a doubt, it is the most often quoted and eloquent exposition of fiduciary law’s foundational purpose. In the case, Chief Justice Cardozo makes full use of equity’s unique methodology to fashion a situationally-appropriate result that is consistent with fiduciary law’s...
This article has sought to provide a context in which to appreciate the operation of the fiduciary concept and the purpose it is intended to fulfill. In the process of gaining a greater contextual appreciation of the fiduciary concept and its purpose, this article has elucidated the fiduciary concept’s reason for being, a brief description of the d...
Peter Birks Peter Birks, “The Content of Fiduciary Obligation” (2000) 34:1 Israel L Rev 3. Peter Birks, “Equity in the Modern Law: An Exercise in Taxonomy” (1996) 26:1 UWAL Rev 1. Peter Birks, “The New Equity and the Need for Certainty” in Frank E McArdle, ed, The Cambridge Lectures, 1987(Montreal: Yvon Blais, 1989) 309. Matthew Conaglen Matthew Co...
Oct 25, 2017 · “Fidelity, Accountability and Trust: Tensions at the Heart of the Rule of Law” From the notions of fidelity, accountability, and trust springs a robust and attractive understanding of the rule ...
- Gerald Postema
If con-stitutional judges may not favor the original over the amended text, if judges may not always say something new, the reason cannot be de-rived from the concept of fidelity as such. Constitutional law must begin a step back from fidelity: it must step back from fidelity-as-originalism, fidelity-as-integrity, fidelity-as-representation ...
ABSTRACT. The recent turn to fiduciary theory among private lawyer scholars suggests that “lawyer as fiduciary” may provide a fresh justification for legal ethics dis-tinct from moral and political accounts propounded by theorists in recent deca-des. This Article examines the justification and limits of fiduciary legal ethics.
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Overall, fidelity is a vital principle that applies to various aspects of life, especially in legal contexts. It emphasizes the importance of loyalty, honesty, and commitment, which are essential for maintaining trust and ensuring that agreements are honored. What are some examples of "fidelity" in legal contracts?
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Liam Murphy. To Fuller, Hart’s lecture seemed to suggest “that if we do not mend our ways of thinking. and talking we may lose a ‘precious moral ideal,’ that of fidelity to law.”1 He goes on to. congratulate Hart for agreeing with the nonpositivists that “one of the chief issues is how. we can best define and serve the ideal of ...
