Fiduciary – someone who owes to another the duties of good faith, loyalty, due care, & disclosure in managing another’s money or property

fiduciary:

“1. Someone who is required to act for the benefit of another person on all matters within the scope of their relationship; one who owes to another the duties of good faith, loyalty, due care, & disclosure  2. Someone who must exercise a high standard of care in managing another’s money or property.”

     Excerpt from D.W.M. Waters, The Constructive Trust; The Case for a New Approach in English Law:

    “The term ‘fiduciary’ is so vague that plaintiffs have been able to claim that fiduciary obligations have been breached when in fact the particular defendant was not a fiduciary stricto sensu but simply had withheld property form the plaintiff in an unconscionable manner.

References:

[1]: Black’s Law Dictionary Deluxe Tenth Edition by Henry Campbell Black, Editor in Chief Bryan A. Garner. ISBN: 978-0-314-61300-4

[2]: D.W.M. Waters, The Constructive Trust; The Case for a New Approach in English Law

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