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Topic: Fiduciary duty

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	Fiduciary - Wikipedia, the free encyclopedia
		A fiduciary is a person who occupies a position of trust in relation to someone else such that he is required to act for the latter's benefit within the scope of that relationship.
		In each case, there the person who is the fiduciary acts for the benefit of people who have a reasonable basis of placing their trust in them based on the scope of the relationship and the explicit or implict agreement between the parties as to the terms that govern the relationship.
		Fiduciary law is particularly relevant to the law of trusts, partnerships, agency, and corporate officers and directors (corporate governance).
	en.wikipedia.org /wiki/Fiduciary_duty (575 words)

	Fiduciary duty (Site not responding. Last check: 2007-09-19)
		Fiduciary duty is one of the duties that corporate directors and officers have towards a corporation, as well as the duties that partners have to a partnership and trustees have to a trust.
		Fiduciary duties take into account the nature of the relationship in which they are formed, and, in some circumstances (such as in limited liability companies) may be modified by contract.
		Also related is the Business Judgement Rule which provides that the decisions of a corporation's board of directors will not be second-guessed unless a decision is self-interested (a violation of the duty of loyalty) or (more rarely) the board acted in an imprudent manner (a violation of the duty of care).
	www.serebella.com /encyclopedia/article-Fiduciary_duty.html (593 words)

	The Fiduciary Duty to Ask for Help (October 2004)
		Although fiduciaries are held to the standard of a knowledgeable investor, they are not required to have the experience or qualifications that such a person might have.
		Fiduciaries are required to determine whether the investments are suitable and appropriate for the needs of the plan and its participants.
		Fiduciaries are required to know all expenses that are being paid by the plan, directly or indirectly, and to determine if they are reasonable (that is, whether the expense is competitive in the marketplace and whether the plan and its participants receive value commensurate to the cost).
	www.reish.com /publications/article_detail.cfm?ARTICLEID=498 (1727 words)

	Fiduciary Duty (Site not responding. Last check: 2007-09-19)
		Fiduciary duties are duties to the organization alone and may be enforced only by those who have a special interest in the organization or who otherwise are entitled to act on its behalf.
		The duty of loyalty requires a director to maintain undivided allegiance to the interests of the organization and bars a director from using his/her position, the organization's information which he/she possesses, or the organization's property in a manner which allows him/her to garner a personal profit or a personal advantage.
		Pursuant to the duty of obedience, directors of nonprofit organizations may not deviate from their duty to fulfill the particular purposes for which the organization was created.
	members.aol.com /wpraeder/fiduciary.htm (1433 words)

	Breach of fiduciary duty and negligent hiring/retention/supervision in Florida -Reply -Reply
		Hearing a parishioners confession for her misconduct with a minister is a breach of fiduciary duty because the confessor, as a matter of civil law, is required to tell the penitent that she "was not the only person responsbiel for her sexual relationship." Moses, 863 P.2d at 323.
		Suggesting that a victim not blab to everyone re her allegations is a breach of fiduciary duty.
		Fiduciary law as articulated in Colorado, because it is supposedly standardless and because it can arise from virtually any confidential or disproportionate power relationship, appears to have a trajectory that could cause it to swallow the entire law.
	lists.ucla.edu /pipermail/religionlaw/1998-September/013166.html (619 words)

	Breach of fiduciary duty (Charles Mitchell, 8 Mar 1999)
		The defendants' duty to account was not a fiduciary duty (Nelson v Rye [1996] 1 WLR 1378 not followed) and the effect of the statute could not be sidestepped by describing contract claims as claims for breach of fiduciary duty.
		Some of the claims were for deliberate and dishonest breach of fiduciary duty which involved allegations of breach of loyalty and thus represented true breaches of fiduciary duty.
		The allegations of dishonest under-accounting which were true breaches of fiduciary duty were based on the same factual allegations as the common law claims in fraud and the statute would have been applied to them by a court of equity (Paragon Finance plc v DB Thakerar & Co (NLC 2980712102) applied).
	www.ucc.ie /law/restitution/rdg/9903007.htm (656 words)

	"Fiduciary / F. Duty" Defined & Explained
		A fiduciary contract is defined to be an agreement by which a person delivers a thing to another on the condition that he will restore it to him.
		When one person does undertake to act for another in a fiduciary relationship, the law forbids the fiduciary from acting in any manner adverse or contrary to the interests of the client, or from acting for his own benefit in relation to the subject matter.
		The client is entitled to the best efforts of the fiduciary on his behalf and the fiduciary must exercise all of the skill, care and diligence at his disposal when acting on behalf of the client.
	www.lectlaw.com /def/f026.htm (397 words)

	[No title]
		Although the fiduciary duty has escaped a precise definition, a fiduciary duty is said to arise "where, as a result of one person's relationship to another, the former is bound to exercise rights and powers in good faith and for the benefit of the latter."[3] 3.
		A fiduciary relationship has been held to exist in relationships such as a bank and its clients, a lawyer and his or her clients, a doctor and a patient, a trustee and beneficiary, and a director and his or her company.
		The fiduciary concept has been likened to "an accordion...(it) may be expanded, or compressed, to maintain the integrity of relationships perceived to be of importance in contemporary society".[8] However, recent case law has described the nature of the fiduciary duty as going beyond its traditional boundaries.
	www.murdoch.edu.au /elaw/issues/v5n2/hammond52.txt (3179 words)

	Washington University Law Quarterly: WHAT LEVEL OF FIDUCIARY DUTY SHOULD MORTGAGE BROKERS OWE THEIR BORROWERS?
		The court reasoned that the mortgage brokers breached their fiduciary duty to disclose "all facts within the broker's knowledge which may be material to the transaction" when the brokers did not disclose all fees--including those paid by third parties--that were paid to the mortgage brokers at closing.
		Continued judicial regulation of mortgage brokers via a general fiduciary duty is unnecessary, based upon existing and proposed laws at the state and federal level that require the disclosure of loan terms and all loan fees and provide for adequate enforcement mechanisms.
		Therefore, a "general fiduciary duty" is one that generally arises at the outset of a transaction based upon the status of the parties to the transaction, without requiring any showing that the fiduciary performed any specific acts which would create a fiduciary duty otherwise.
	ls.wustl.edu /WULQ/75-4/754-9.html (10467 words)

	Breach of Fiduciary Duty (Site not responding. Last check: 2007-09-19)
		A fiduciary duty arises in the law from special confidential and trusting relationships existing between two individuals or a company and an individual such as a director or officer.
		A fiduciary duty requires the utmost fairness, good faith, and loyalty to the person to whom the duty is owed.
		The fiduciary duty concept is embodied in many different areas of the law and relationships recognized primarily in business because of the confidential, trusting nature of the relationship.
	www.tblaw.com /areas/brduty.html (121 words)

	What Is Your ERISA Fiduciary Duty To COBRA Beneficiaries? - a COBRA Tip from OnQue Technologies, Inc.
		This is known as the ERISA fiduciary duty, or the duty of loyalty.
		Fiduciaries hold plan assets in trust for beneficiaries and administer benefits under those plans; therefore they have a special legal duty to act in the best interests of those beneficiaries.
		Fiduciaries must follow the terms of plan documents to the extent that the terms of the plan are consistent with the law under ERISA.
	www.onque.com /tips/fiduciary_duty.html (988 words)

	Fiduciary duty of health care providers - Garcia v. Coffman, 124 N.M. 12, 946 P.2d 216 (N.M.App. 06/17/1997) ...
		Coffman contends that: (1) he was not in a fiduciary relationship with Plaintiff; (2) the award of damages for breach of fiduciary duty, in addition to the award of damages for fraud, constituted a double recovery; and (3) punitive damages cannot be awarded for breach of a fiduciary relationship.
		It is another question, however, whether a physician's breach of the duty of full and fair disclosure resulting from that relationship gives rise to an equitable cause of action for breach of fiduciary duty that is separate from a cause of action for fraudulent misrepresentation.
		It is this affirmative duty of full and fair disclosure that is at the heart of Plaintiff's claim of breach of fiduciary duty.
	biotech.law.lsu.edu /cases/fid-duty/Coffman.htm (5621 words)

	Canson Enterprises Ltd. v. Boughton & Co. (Site not responding. Last check: 2007-09-19)
		A fiduciary duty may be breached when the solicitor fails to inform a client of a fact of which he should have informed him, or that he should seek independent advice.
		If fiduciaries on land transactions who breach their fiduciary duty were responsible not only for losses flowing from the fiduciary breach but for all wrongful acts associated with the property thereafter which cause loss to the plaintiff, they would not only be deterred from breach of duty, but rendered impotent.
		Where duties imposed by equity have been breached, the limitation of damage awards by operation of the principles of causation and remoteness is in accordance with established equitable rules and the principles of fairness and justice that underlie these rules.
	www.lexum.umontreal.ca /csc-scc/en/pub/1991/vol3/html/1991scr3_0534.html (16104 words)

	E Law: The 'Stolen Generation' - Finding A Fiduciary Duty
		Although the fiduciary duty has escaped a precise definition, a fiduciary duty is said to arise "where, as a result of one person's relationship to another, the former is bound to exercise rights and powers in good faith and for the benefit of the latter."[3]
		Regardless of the classification given to the fiduciary duty, the underlying elements of such an obligation suggest that fiduciary obligations are held to exist, in their simplest form, when there is a transfer of power "encumbered by attached duties".
		Applied to the fiduciary relationship of a guardian and a ward, the obligations of the guardian /fiduciary are to "refrain from harming the ward, (they) must protect the ward from harm and must provide for their education".
	www.murdoch.edu.au /elaw/issues/v5n2/hammond52nf.html (4276 words)

	High Court Review 201 (Site not responding. Last check: 2007-09-19)
		In view of the fact that the appellants were in breach of their fiduciary duty, the respondents had a right to seek an order for the rescission of the mortgage and other supporting documentation.
		While it is axiomatic that the fiduciary principle is draconian and imposes a strict standard of integrity on the fiduciary, the writer submits that this strict approach ought to be applied only when determining whether there is a breach of fiduciary duty.
		While the spirit of the fiduciary principle must be respected, the court must be careful not to impose a draconian remedy in all cases simply on the basis that the party in breach is a fiduciary.
	www.bond.edu.au /law/hcr/articles/201liew.htm (4890 words)

	Fiduciary Duty Considerations In Choosing Between Limited Partnerships And Limited Liability Companies\| Print Bowne ... (Site not responding. Last check: 2007-09-19)
		The fiduciary duties of general partners in limited partnerships are governed by the Uniform Partnership Act (UPA) or in some states, including Delaware, the Revised Uniform Partnership Act (RUPA).
		The UPA does not state whether fiduciary duties may be amended by agreement, although courts have allowed partners to agree to vary obligations.
		The ULLCA does not permit members to eliminate the duty of loyalty, but they may modify it as long as not “manifestly unreasonable.” Similarly, the duty of care may not be unreasonably reduced and reasonable standards may be set for the good-faith and fair-dealing obligations.
	www.bowne.com /newsletters/friendly.asp?storyID=457 (564 words)

	The Rise in Breach of Fiduciary Duty Claims (Site not responding. Last check: 2007-09-19)
		Similar to ERISA, state breach of fiduciary duty laws typically require proof of a fiduciary relationship (which may be inferred from a health insurance contract) and a breach of the fiduciary's duty to place the interests of the plaintiff above the fiduciary's own self-interest.
		The court's indication that a breach of fiduciary duty action may exist in the absence of medical malpractice is disconcerting because of breach of fiduciary duty is theoretically easier to prove than medical malpractice.
		While it is premature to analyze the true impact breach of fiduciary duty cases will have on the healthcare industry, they are certain to increase litigation costs by necessitating exhaustive discovery of the financial incentive plans.
	www.sdma.com /sedgwick.updates/articles/d-o-fidelity?do061999.html (2848 words)

	Untitled Document (Site not responding. Last check: 2007-09-19)
		A fiduciary duty is the duty to look out for the interests of a third party, even if they conflict with your own interests.
		Breach of fiduciary duty as fraud (wire fraud/RICO) - Carpenter V. United States, 484 U.S. Employee of non-profit business has a fiduciary duty to the employer - Las Luminarias of the New Mexico Council of the Blind v.
		Disclosure as a fiduciary duty for physicians - Hunter v.
	biotech.law.lsu.edu /cases/fid-duty/index.htm (250 words)

	Criminal Resource Manual 947 Fiduciary Duty (Site not responding. Last check: 2007-09-19)
		QUERY: Whether a fiduciary duty or relationship is a necessary ingredient to frauds relating to intangible property rights.
		It does not necessarily follow, however, that the existence or protection of an intangible property right must depend upon the existence of a fiduciary relationship or duty.
		Allen, 554 F.2d 398, 410 (10th Cir.) ("While the existence of a fiduciary duty is relevant and an ingredient in some mail fraud prosecutions,.
	www.usdoj.gov /usao/eousa/foia_reading_room/usam/title9/crm00947.htm (374 words)

	Section 7-3-307 (Site not responding. Last check: 2007-09-19)
		(1) "Fiduciary" means an agent, trustee, partner, corporate officer or director, or other representative owing a fiduciary duty with respect to an instrument.
		(1) Notice of breach of fiduciary duty by the fiduciary is notice of the claim of the represented person.
		(3) If an instrument is issued by the represented person or the fiduciary as such, and made payable to the fiduciary personally, the taker does not have notice of the breach of fiduciary duty unless the taker knows of the breach of fiduciary duty.
	www.legislature.state.al.us /CodeofAlabama/1975/7-3-307.htm (108 words)

	Victor O. Schinnerer - Risk Management Reporter - Listing Agreements and Fiduciary Duty
		Both the brokerage firm and the agent argued that they did not owe any duty to the seller because, at the time the agent and the seller entered into the sales contract, there was not any listing agreement in force, and, therefore, a fiduciary duty did not exist.
		The court next considered and rejected the defendants' argument that the agent did not breach any fiduciary duty to the seller by reselling the property because the second contract was negotiated after the seller and the agent signed their purchase contract.
		The court further concluded that in this case the defendants' fiduciary duty certainly continued after the agent and the seller signed their sales contract because the brokerage firm was named as the seller's listing broker in that contract.
	www.schinnerer.com /risk_mgmt/real_estate/lstagrmt.html (1404 words)

	Hendry Anne P. v. Pelland Francis J.
		Because we set aside the court's rulings during trial on the fiduciary duty claim and the counterclaim, thus entitling the Hendrys to a new trial on these claims, we need not address the district court's denial of the motion for a new trial.
		Because a breach of the duty of loyalty diminishes the value of the attorney's representation as a matter of law, some degree of forfeiture is thus appropriate without further proof of injury.
		Because the Hendrys presented evidence that Pelland breached his duty of loyalty by violating DR 5-105, they were entitled to have their fiduciary duty claim for disgorgement of legal fees go to the jury.
	www.ll.georgetown.edu /federal/judicial/dc/opinions/94opinions/94-7082a.html (5608 words)

	Real Property, Probate and Trust Journal: Fiduciary duty considerations in choosing between limited partnerships and ...
		Editors' Synopsis: This Article compares the fiduciary duties imposed upon the general and limited partners of a limited partnership and the managers and members of a limited liability company under the most recent revisions to the uniform acts which govern these entities.
		This Article compares the fiduciary duties imposed on the owners and managers of LPs and LLCs and explores the extent to which fiduciary duty considerations should affect the choice between the two entities, assuming all other considerations are equal.
		Unlike UPA, section 404 of RUPA enumerates the fiduciary duties of a general partner.20 The enumerated fiduciary duties, the duty of loyalty and the duty of care,21 represent an exclusive list of fiduciary duties under RUPA.22 Section 404 of RUPA does not mention a duty of disclosure.
	www.findarticles.com /p/articles/mi_qa3714/is_200104/ai_n8942283 (767 words)

	Fiduciary duty (Site not responding. Last check: 2007-09-19)
		A fiduciary must not withhold information from the beneficiary, particularly with respect to the fiduciary'sdealings with the beneficiary.
		Fiduciary duties take into account the nature of the relationship in which they are formed, and, insome circumstances (such as in limited liabilitycompanies) may be modified by contract.
		Also related is the Business Judgement Rule which provides that the decisions of a corporation's board of directorswill not be second-guessed unless a decision is self-interested (a violation of the duty of loyalty) or (more rarely) the boardacted in an imprudent manner (a violation of the duty of care).
	www.therfcc.org /fiduciary-duty-2354.html (239 words)

	Defining breach of fiduciary duty (Site not responding. Last check: 2007-09-19)
		For breach of duty, it must be decided whether or not the defendant, the one being accused of negligence, behaved in a way that a reasonable person would have under similar circumstances.
		To determine breach of duty's existence, a determination is made as to the standard of care and an evaluation of the defendant's conduct in reflection of that determined standard.
		The key factor to remember in considering negligence is whether the duty of care was ever owed to the plaintiff, by the defendant, and whether or not that duty was breached.
	ar.essortment.com /breachoffidu_rkwv.htm (547 words)

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