From Fiduciary Duties to Fiduciary Relationships for SRI: Responding to the Will of Beneficiaries

2011 ◽  
pp. 61-82 ◽  
Author(s):  
Benjamin J. Richardson
Keyword(s):  
Fiduciary Duties ◽  
The Will ◽  
Fiduciary Relationships

Property Rights, Fiduciary Duties, and the Control of Assets

2018 ◽  
Author(s):  
Aruna Nair
Keyword(s):  
Property Rights ◽  
Case Law ◽  
Property Right ◽  
Formal Structure ◽  
Fiduciary Duties ◽  
Legal Power ◽  
The Law ◽  
Fiduciary Relationships ◽  
Relationship Of

This chapter examines the law governing the availability of claims to traceable proceeds. It argues that the language used in the case law—which uses the terminology of property rights and of fiduciary relationships—cannot fully explain the law, since such claims are often available in the absence of fiduciary duties and are not available to holders of many types of property right. It argues that such claims instead presuppose a relationship of ‘control of assets’: where the defendant has a legal power to deal with some asset, correlating to a vulnerability to a loss of rights in that asset on the part of the claimant, and coupled with a duty not to exercise the power. It argues that relationships that have this formal structure also share normative characteristics that justify the subordination of defendant autonomy that has been shown to be at the heart of the tracing concept.

Fiduciary Principles in Contemporary Common Law Systems

2019 ◽  
pp. 564-582
Author(s):  
Matthew Conaglen
Keyword(s):  
United States ◽  
Common Law ◽  
The United States ◽  
Good Faith ◽  
Fiduciary Duty ◽  
Standards Of Care ◽  
Duty Of Care ◽  
Fiduciary Duties ◽  
Similarities And Differences ◽  
Fiduciary Relationships

This chapter examines the principles of fiduciary doctrine that are found in contemporary common law systems. More specifically, it considers the current similarities and differences between various jurisdictions such as England, Australia, Canada, and the United States. The similarities focus on the duties of loyalty, care and skill, and good faith, as well as when fiduciary duties arise and the kinds of interests that are protected by recognition of fiduciary relationships. The chapter also discusses the issue of differences between various jurisdictions with regard to the duty of care and skill before concluding with an analysis of differences between remedies that are made available in the various contemporary common law jurisdictions when a breach of fiduciary duty arises. It shows that the regulation of fiduciaries appears to be reasonably consistent across common law jurisdictions and across various types of actors, even as such actors are expected to meet differing standards of care. Statute plays a key role in the regulation of various kinds of fiduciary actors, especially corporate directors.

10. The fiduciary duty

2018 ◽  
Author(s):  
Gary Watt
Keyword(s):  
Conflicts Of Interest ◽  
Third Parties ◽  
Good Faith ◽  
Fiduciary Duty ◽  
Fiduciary Duties ◽  
Trust Property ◽  
Fiduciary Relationships ◽  
Strict Rule

The fiduciary duty is the defining duty of trusteeship and consists of several overlapping obligations intended to promote loyalty or faithfulness. As part of his fiduciary duty, the trustee should avoid conflict with the interests of the trust and not to make an unauthorised unauthorized profit from the trust property, or from his position of trust. The fiduciary duty may also apply to a person who is not a trustee, in which case he is said to be a fiduciary. This chapter examines the principal obligations of trusteeship and the implications of breach of those obligations for trustees, beneficiaries, and third parties. It first discusses the strict rule of exemplary fiduciary propriety before turning to the duty of good faith. The chapter also looks at fiduciary relationships and fiduciary duties, the fiduciary duty to avoid conflicts of interest, the fiduciary duty to account for unauthorised unauthorized profits, and trustee remuneration.

scholarly journals Justifying Fiduciary Duties

2013 ◽  
Vol 58 (4) ◽  
pp. 969-1023 ◽  
Author(s):  
Paul B. Miller
Keyword(s):  
Private Law ◽  
Legal Capacity ◽  
Alternative Account ◽  
Fiduciary Duties ◽  
Legal Relationship ◽  
Core Set ◽  
Duty Of Loyalty ◽  
Fiduciary Relationships

Fiduciary duties are critical to the integrity of a remarkable variety of relationships, including those between trustee and beneficiary, director and corporation, agent and principal, lawyer and client, doctor and patient, parent and child, and guardian and ward. Notwithstanding their variety, all fiduciary relationships are presumed to enjoy common characteristics and to attract a core set of demanding legal duties, most notably a duty of loyalty. Surprisingly, however, the justification for fiduciary duties is an enigma in private law theory. It is unclear what makes a relationship fiduciary and why fiduciary relationships attract fiduciary duties. This article takes up the enigma. It assesses leading reductivist and instrumentalist analyses of the justification for fiduciary duties. Finding them wanting, it offers an alternative account of the juridical justification for fiduciary duties. The author contends that the fiduciary relationship is a distinctive kind of legal relationship in which one person (the fiduciary) exercises power over practical interests of another (the beneficiary). Fiduciary power is a form of authority derived from the legal capacity of the beneficiary or a benefactor. The duty of loyalty is justified on the basis that it secures the exclusivity of the beneficiary’s claim over fiduciary power so understood.

15. Fiduciary duties

2018 ◽  
Author(s):  
Graham Virgo
Keyword(s):  
Fiduciary Duty ◽  
Personal Interest ◽  
Fiduciary Duties ◽  
Fiduciary Obligations ◽  
Fiduciary Relationships ◽  
And Function

This chapter examines the nature of fiduciary duties and how a fiduciary relationship can be identified. It emphasizes that trustees are fiduciaries, and so are subject to fiduciary duties, but also considers other fiduciary relationships. The chapter analyses the nature and function of fiduciary obligations. It examines in detail the two core fiduciary duties of ensuring that there is no conflict between a fiduciary’s personal interest and their duty to the principal and also that a fiduciary should not profit from his or her fiduciary position. The chapter discusses the consequences of a breach of fiduciary duty and the available remedies for such a breach. In particular, the chapter considers when and why profits obtained by a fiduciary in breach of a fiduciary duty should be held on constructive trust for the principal, with particular reference to the receipt of bribes and secret commissions.

10. The fiduciary duty

2020 ◽  
pp. 350-381
Author(s):  
Gary Watt
Keyword(s):  
Conflicts Of Interest ◽  
Third Parties ◽  
Good Faith ◽  
Fiduciary Duty ◽  
Fiduciary Duties ◽  
Trust Property ◽  
Fiduciary Relationships ◽  
Strict Rule

The fiduciary duty is the defining duty of trusteeship and consists of several overlapping obligations intended to promote loyalty or faithfulness. As part of his fiduciary duty, the trustee should avoid conflict with the interests of the trust and not to make an unauthorised unauthorized profit from the trust property, or from his position of trust. The fiduciary duty may also apply to a person who is not a trustee, in which case he is said to be a fiduciary. This chapter examines the principal obligations of trusteeship and the implications of breach of those obligations for trustees, beneficiaries, and third parties. It first discusses the strict rule of exemplary fiduciary propriety before turning to the duty of good faith. The chapter also looks at fiduciary relationships and fiduciary duties, the fiduciary duty to avoid conflicts of interest, the fiduciary duty to account for unauthorised unauthorized profits, and trustee remuneration.

The Oxford Handbook of Fiduciary Law

2019 ◽  
Keyword(s):  
Empirical Analysis ◽  
Future Research ◽  
Legal Systems ◽  
Comprehensive Overview ◽  
Fiduciary Duties ◽  
Key Concepts ◽  
Fiduciary Relationships ◽  
The Many

The Oxford Handbook of Fiduciary Law provides a comprehensive overview of critical topics in fiduciary law and theory through chapters authored by leading scholars. The Handbook opens with surveys of the many fields of law in which fiduciary duties arise. Drawing on these surveys, the Handbook offers a synthetic analysis of fiduciary law’s key concepts and principles. Chapters in the volume explore the defining features of fiduciary relationships, clarify the distinctive fiduciary duties that arise in these relationships, and identify the remedies available for breach of fiduciary duties. The Handbook also provides numerous comparative perspectives on fiduciary law from eminent legal historians and from scholars with deep expertise in a diverse array of the world’s legal systems. Finally, the Handbook lays the groundwork for future research on fiduciary law and theory by highlighting cross-cutting themes, identifying persistent theoretical and practical challenges, and exploring how the field could be enriched through empirical analysis and interdisciplinary insights from economics, philosophy, and psychology. Unparalleled in its breadth and depth of coverage, the Oxford Handbook of Fiduciary Law represents an invaluable resource for practitioners, policymakers, scholars, and students of this essential field of law.

Fiduciary Principles in Indian Law

2019 ◽  
pp. 622-642
Author(s):  
Vikramaditya S. Khanna
Keyword(s):  
Growth And Development ◽  
Corporate Law ◽  
Ancient Rome ◽  
Fiduciary Duties ◽  
Legal Rules ◽  
The World ◽  
The Future ◽  
Fiduciary Relationships ◽  
Indian Law ◽  
Trust Law

This chapter examines fiduciary principles in Indian law. Fiduciary duties, such as those owed by corporate directors, trustees, agents, and lawyers, are commonplace in India. However, there are contexts in India where the fiduciary duties appear unusual. A particularly important example of this are the duties owed by the person (called the Karta) who manages the affairs of a Hindu Undivided Family (HUF). These duties differ from those seen in the more common types of fiduciary relationships and raise a number of interesting questions for greater exploration. This chapter first provides an overview of fiduciary duties in India that are common across many parts of the world, focusing on agency law, trust law, and corporate law. It then explains what the Karta and the HUF are, how the HUF holds property akin to a joint tenancy, how it operates, how it can be created and terminated, how it compares to the pater familias of ancient Rome, and what areas of Indian law impact its continued existence. The chapter then explores the duties owed by the Karta to people within the HUF, along with other legal rules and practical considerations that operate to police the Karta’s behavior in ways that supplement his or her limited fiduciary duties. Finally, the chapter closes with how the Karta’s duties raise some interesting questions about the growth and development of fiduciary principles that might be fruitfully explored in the future.

8 Fiduciary Duties in Financial Markets

2015 ◽  
Author(s):  
Bamford Colin
Keyword(s):  
Financial Markets ◽  
Confidential Information ◽  
Fiduciary Duties ◽  
Commercial Transaction ◽  
Fiduciary Relationships ◽  
Financial Arrangements ◽  
Financial Transactions ◽  
Corporate Customers

This chapter builds on the previous one by considering the concept of fiduciary duties in the context of commercial transactions, and then in the context of financial arrangements. Although commercial dealings do not usually lend themselves to the formation of fiduciary relationships, the chapter identifies a number of types of arrangement where the concept might apply. It discusses the interplay between the duties that arise from a fiduciary relationship and the obligations that flow from the exchange of confidential information in a commercial transaction. The chapter then turns to consider the role of fiduciary duties in financial transactions, particularly in the dealings between banks and their corporate customers. It concludes by looking at the regulatory rules that safeguard the interests of retail customers, and compares the obligations that these rules place on businesses with the duties that flow from fiduciary relationships.

15. Fiduciary Duties

2020 ◽  
pp. 445-484
Author(s):  
Graham Virgo
Keyword(s):  
Fiduciary Duty ◽  
Personal Interest ◽  
Fiduciary Duties ◽  
Fiduciary Obligations ◽  
Fiduciary Relationships ◽  
And Function

This chapter examines the nature of fiduciary duties and how a fiduciary relationship can be identified. It emphasizes that trustees are fiduciaries, and so are subject to fiduciary duties, but also considers other fiduciary relationships. The chapter analyses the nature and function of fiduciary obligations. It examines in detail the two core fiduciary duties of ensuring that there is no conflict between a fiduciary’s personal interest and their duty to the principal and also that a fiduciary should not profit from their fiduciary position. The chapter discusses the consequences of a breach of fiduciary duty and the available remedies for such a breach. In particular, the chapter considers when and why profits obtained by a fiduciary in breach of a fiduciary duty should be held on constructive trust for the principal, with particular reference to the receipt of bribes and secret commissions.

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