Search results
Jul 27, 2023 · Enhanced Trust and Credibility: Adherence to ethical principles, such as veracity, fidelity, and confidentiality, helps to build trust and credibility. Whether it’s a business, healthcare provider, or a government entity, maintaining these principles is crucial for establishing and maintaining public trust. Promotion of Autonomy and Respect ...
Oct 11, 2024 · Business ethics refers to the standards and principles that govern the actions and decisions of individuals and organizations within the business environment. 1 Historically, business ethics has evolved from the philosophical discussions of morality and integrity. In the latter half of the 20th century, the rise of corporate scandals and the ...
- onlinepittlaw@law.pitt.edu
- 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...
Fidelity in legal terms refers to the loyalty and faithfulness that one party owes to another, especially in relationships like marriage or business partnerships. It means being trustworthy and keeping promises. What does fidelity mean in a marriage? In a marriage, fidelity means being faithful to your spouse.
Jun 27, 2024 · Business ethics is the moral principles, policies, and values that govern the way companies and individuals engage in business activity. It goes beyond legal requirements to establish a code of ...
Sep 7, 2022 · Despite the omnipresence of the fiduciary in business organisations, there is an omission of theorisations of this legal concept within business ethics literature. This is surprising considering its widespread and embedded use, but even more so given that the presence of ethics within the fiduciary is increasingly contested ground. This article addresses both issues by theorising the fiduciary ...
People also ask
Is the fiduciary a legal concept?
What are business ethics?
Are fiduciary duties a helpful guide to ethical decision making?
What is the difference between fidelity and accountability?
What is the difference between fidelity and veracity?
What is the relationship between business ethics and law?
Jul 27, 2023 · Business ethics are principles that guide decision-making. As a leader, you’ll face many challenges in the workplace because of different interpretations of what's ethical. Situations often require navigating the “gray area,” where it’s unclear what’s right and wrong. When making decisions, your experiences, opinions, and perspectives ...
