Friday, April 20, 2012

Fiduciary duties

are little understood by anyone, principally because few take an economic torts course as a part of their upper-level law school curriculum.

First, the rationale for a fiduciary duty is that, "fiduciary obligation are defined by the law because of entrustment, dependence, inequality, or other factors that can remove the limitations of contract law." 

Second, as Deborah A. DeMott likes to remind, fiduciary duties attach even before the relationship of principal and agent attaches.

Recent comment on the English and Scottish view is here: Fiduciary duties in agency

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