fiduciary relation


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Noun1.fiduciary relation - the legal relation that exists when one person justifiably places reliance on another whose aid or protection is sought in some matter
law, jurisprudence - the collection of rules imposed by authority; "civilization presupposes respect for the law"; "the great problem for jurisprudence to allow freedom while enforcing order"
legal relation - a professional relation that is regulated by law (as between a lawyer and a client)
bank-depositor relation - the responsibility of a bank to act in the best interests of the depositors
confidential adviser-advisee relation - the responsibility of a confidential adviser to act in the best interest of the advisee
conservator-ward relation - the responsibility of a conservator to act in the best interests of the ward
director-stockholder relation - the responsibility of corporate directors to act in the best interests of stockholders
executor-heir relation - the responsibility of an executor (or administrator) of an estate to act in the best interests of the heir
attorney-client relation, lawyer-client relation - the responsibility of a lawyer to act in the best interests of the client
partner relation - the responsibility of partners to act in one another's best interests
receiver-creditor relation - the responsibility of receiver or trustee in bankruptcy to act in the best interests of the creditor
trustee-beneficiary relation - the responsibility of a trustee to act in the best interests of the beneficiary
References in periodicals archive ?
He rightly rejects the utility of the parent-child relation, but he unnecessarily adds that it is not an established fiduciary relation.
resulting from a betrayal of confidence, but upon a broader foundation of a wise public policy that, for the purpose of removing all temptation, extinguishes all possibility of profit flowing from a breach of the confidence imposed by the fiduciary relation.
For example, Tamar Frankel has argued that fiduciary relationships are a primary form of social relationship marked by interpersonal dependency: "[0]ne party to a fiduciary relation (the entrustor) is dependent on the other (the fiduciary).
2d at 619 ("Corporate officers, controlling the corporation through ownership of a majority of the stock, have a fiduciary relation to minority stockholders.
Particularly helpful to understanding the nature of the broker-customer relationship is the Restatement of Torts' explanation: "[a] fiduciary relation exists between two persons when one of them is under a duty to act or to give advice for the benefit of another upon matters within the scope of the relation.
out whether corporate managers bear a fiduciary relation to the
But this should not be surprising: the entire point of standing in a fiduciary relation to a beneficiary is that the fiduciary is supposed to take on a special role of judgment, representation, and control.
76) At the same time, for relationships not 'established' as fiduciary, (77) courts have endorsed a number of features which if found to exist are indicative of a fiduciary relation.
When there is a previous definite fiduciary relation between the parties.
Secondly, the court indicated that the claim turned on whether the influence involved created a fiduciary relation, thus properly equating the presumption of undue influence with conventional fiduciary accountability.
Indeed, Daniel Markovits has argued that "fiduciary loyalty and care build a measure of paternalism into every fiduciary relation.
This view seems to be reflected in the second Restatement of Torts, which provides that an individual "standing in a fiduciary relation with another is subject to liability to the other for harm resulting from a breach of duty imposed by the relation.