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Jan 10, 2022 · Duty to Not Delegate Tasks. Duty not to become a Trustee of a second Trust if that second Trust has some conflict with the First Trust. Duty to administer the Trust according to its terms. Duty to account. Duty to separate and identify Trust Property. Duty to deal impartially with all Beneficiaries.
Understanding Fiduciary Duties and Relationship Fiduciarity, 2017 CanLIIDocs 427. Author (s): Leonard I Rotman. Source (s): McGill Law Journal (lawjournal.mcgill.ca) Licence: This work is licenced under the CanLII user licence which includes the right of the User to make copies of the work for legal research purposes, in the practice of law or ...
May 9, 2019 · Abstract. This chapter addresses the fiduciary duty of loyalty. Loyalty is a central concept in fiduciary law, even as scholars differ on whether we should reason from fiduciary relationships to loyalty obligations, or the other way around. Nonetheless, the common view across jurisdictions and across theories is that loyalty is vital to ...
- 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...
Introduction. Fiduciary duties are critical to the integrity of a remarkably wide va-. riety of relationships and institutions.1 Lawyers, doctors, investment ad-. visors, and other professionals are fiduciaries of their clients. Trustees, executors, and agents are fiduciaries of their beneficiaries, testators, and.
May 21, 2024 · A breach of fiduciary duty exists when: (1) a party owes the other party a fiduciary duty (a fiduciary relationship must exist); (2) the party breaches that fiduciary duty; and (3) the breach ...
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Jul 31, 2023 · The CBCA also imposes a fiduciary duty of loyalty that directors and officers act honestly and in good faith with a view to the best interests of the corporation. Under the fiduciary duty of loyalty, directors and officers are to act impartially and place the interests of the corporation first, not allowing their decisions to be tainted by self-interest or self-dealing.
