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A breach of fiduciary duty is a breach of fiduciary duty, regardless of why it occurred or whether there are subjective reasons for this breach that are alleged to justify it or mitigate its severity. Breaching a fiduciary duty is not a question of degree: it is a binary definition —either a breach has occurred or it has not.
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 ...
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.
The essence of fiduciary duties lies in the requirement for partners to conduct their affairs with loyalty, care, and good faith, ensuring that their actions do not undermine the trust that is integral to the partnership. One of the primary ethical obligations inherent in fiduciary duties is the duty of loyalty.
Fiduciary duties. The duties, pre-eminently a duty of loyalty, owed by a fiduciary to the other person in the fiduciary relationship, for example, by a trustee to the beneficiaries of a trust; by an agent to the agent's principal; by a company director to the company. The scope of the duties owed in any given case ultimately depends on the ...
One of the foremost problems of fiduciary law theory is the imprecise understanding of what a situation of conflict of interest involves. The mainstream contemporary legal literature on fiduciary duties is premised on the dual assumption that, on the one hand, humans are inclined to act self-interestedly and, on the other hand, they are too weak to consciously resist this urge while managing ...
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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.
