Multiple Loyalties And The Conflicted Fiduciary PDF Download
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| Author | : Paul B. Miller |
| Publisher | : |
| Total Pages | : 47 |
| Release | : 2014 |
| Genre | : |
| ISBN | : |
Download Multiple Loyalties and the Conflicted Fiduciary Book in PDF, ePub and Kindle
Fiduciary loyalty is usually understood as implying an exclusive claim held by the beneficiary over the exercise of fiduciary power by a fiduciary. The beneficiary is said to have a right that the fiduciary exercise fiduciary power exclusively in her interest. The fiduciary is said to be subject to a correlative duty to act solely in the interests of the beneficiary in acting on a fiduciary power. Fiduciary loyalty so understood is a jealous form of partiality. The jealous or exclusive conception of fiduciary loyalty is largely, but not entirely, accurate. It captures the typical case in which the conduct of the fiduciary is constrained by proscriptive rules. But it ignores cases in which proscriptive rules must be held in abeyance because the fiduciary acts under an authorized conflict. Conflicted fiduciaries unsettle conventional wisdom about fiduciary loyalty. Supposing that a conflicted fiduciary cannot be expected to be exclusively partial to her beneficiary, in what sense can she nonetheless be expected to be partial to the beneficiary? Can a conflicted fiduciary have multiple but undivided loyalties? If so, how does the conflicted fiduciary prove her loyalty? The author addresses these and other questions in light of the Supreme Court of Canada's recent decision in Sun Indalex Finance, LLC v. United Steelworkers.
| Author | : Evan J. Criddle |
| Publisher | : Oxford University Press |
| Total Pages | : 912 |
| Release | : 2019-04-29 |
| Genre | : Law |
| ISBN | : 0190634111 |
Download The Oxford Handbook of Fiduciary Law Book in PDF, ePub and Kindle
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, including agency law, trust law, corporate law, pension law, bankruptcy law, family law, employment law, legal representation, health care, and international law. Drawing on these surveys, the Handbook offers a synthetic analysis of fiduciary law's key concepts and principles. Chapters in the Handbook 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 volume 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 in this essential field of law.
| Author | : Evan J. Criddle |
| Publisher | : |
| Total Pages | : 0 |
| Release | : 2017 |
| Genre | : |
| ISBN | : |
Download Liberty in Loyalty Book in PDF, ePub and Kindle
Conventional wisdom holds that the fiduciary duty of loyalty is a prophylactic rule that serves to deter and redress harmful opportunism. This idea can be traced back to the dawn of modern fiduciary law in England and the United States, and it has inspired generations of legal scholars to attempt to explain and justify the duty of loyalty from an economic perspective. Nonetheless, this Article argues that the conventional account of fiduciary loyalty should be abandoned because it does not adequately explain or justify fiduciary law's core features. The normative foundations of fiduciary loyalty come into sharper focus when viewed through the lens of republican legal theory. Consistent with the republican tradition, the fiduciary duty of loyalty serves primarily to ensure that a fiduciary's entrusted power does not compromise liberty by exposing her principal and beneficiaries to domination. The republican theory has significant advantages over previous theories of fiduciary law because it better explains and justifies the law's traditional features, including the uncompromising requirements of fiduciary loyalty and the customary remedies of rescission, constructive trust, and disgorgement. Significantly, the republican theory arrives at a moment when American fiduciary law stands at a crossroads. In recent years, some politicians, judges, and legal scholars have worked to dismantle two central pillars of fiduciary loyalty: the categorical prohibition against unauthorized conflicts of interest and conflicts of duty (the no-conflict rule), and the requirement that fiduciaries relinquish unauthorized profits (the no-profit rule). The republican theory explains why these efforts to scale back the duty of loyalty should be resisted in the interest of safeguarding liberty.
| Author | : Matthew Conaglen |
| Publisher | : Bloomsbury Publishing |
| Total Pages | : 235 |
| Release | : 2010-01-08 |
| Genre | : Law |
| ISBN | : 1847318177 |
Download Fiduciary Loyalty Book in PDF, ePub and Kindle
Winner of the second SLS Peter Birks Prize for Outstanding Legal Scholarship 2010. Fiduciary Loyalty presents a comprehensive analysis of the nature and function of fiduciary duties. The concept of loyalty, which lies at the heart of fiduciary doctrine, is a form of protection which is designed to enhance the likelihood of due performance of non-fiduciary duties, by seeking to avoid influences or temptations that may distract the fiduciary from providing such proper performance. In developing this position, the book takes the novel approach of putting to one side the difficult question of when fiduciary duties arise in order to focus attention instead on what fiduciary duties do when they are owed. The issue of when fiduciary duties arise can then be returned to, and considered more profitably, once a clear view has emerged of the function that such duties perform. The analysis advanced in the book has both practical and theoretical implications for understanding fiduciary doctrine. For example, it provides a sound conceptual footing for understanding the relationship between fiduciary and non-fiduciary duties, highlighting the practical importance of analysing both forms of duties carefully when considering fiduciary claims. Further, it explains a number of tenets within fiduciary doctrine, such as the proscriptive nature of fiduciary duties and the need to obtain the principal's fully informed consent in order to avoid fiduciary liability. Understanding the relationship between fiduciary and non-fiduciary duties also provides a solid foundation for addressing issues concerning compensatory remedies for their breach and potential defences such as contributory fault. The distinctive purpose that fiduciary duties serve also provides a firm theoretical basis for maintaining their separation from other forms of civil obligation, such as those that arise under the law of contracts and of torts.
| Author | : Andrew S. Gold |
| Publisher | : |
| Total Pages | : 34 |
| Release | : 2013 |
| Genre | : |
| ISBN | : |
Download The Loyalties of Fiduciary Law Book in PDF, ePub and Kindle
Fiduciary theorists broadly agree that a duty of loyalty is fundamental to fiduciary relationships. They do not agree on a core minimum content of fiduciary loyalty. Some think that loyalty at the least requires the avoidance of conflicts of interest (and perhaps also conflicts of duties). Others think that loyalty requires a fiduciary to act in what he or she perceives are the beneficiary's best interests. Yet others conclude that loyalty amounts to the terms of a hypothetical bargain, in a world of zero transaction costs. Each approach is incorrect, at least when we view fiduciary law as a whole. This chapter argues that the various conceptions of fiduciary loyalty are not readily reducible into each other, and that for each of the leading conceptions of fiduciary loyalty the law provides important counter-examples. It is possible to find common features to fiduciary loyalty in its many settings, but doing so requires a very thin account of what it is to be loyal. Recognizing the variations in fiduciary loyalty, however, may tell us something significant about fiduciary law. This chapter indicates how variable fiduciary loyalty is, and it offers an initial exploration of why this matters.
| Author | : Arthur B. Laby |
| Publisher | : |
| Total Pages | : 75 |
| Release | : 2006 |
| Genre | : |
| ISBN | : |
Download Resolving Conflicts of Duty in Fiduciary Relationships Book in PDF, ePub and Kindle
Fiduciaries who represent multiple principals often encounter conflicts of duty, torn between promoting the interests of one principal and those of another. Courts have not done a good job of articulating principles for resolving these conflicts. They resort to inconsistent approaches and seek to elide underlying tensions in the cases. Scholars have addressed sources of fiduciary duties, and whether they constitute default contractual terms, but they have paid little attention to resolving conflicts when they arise. This Article seeks to fill the gap, presenting an account to explain and justify the cases. Fiduciaries are subject to common law duties of loyalty and care, and many difficult cases present a conflict between enforcing the duty of loyalty owed to one principal and the duty of care owed to another. The key to understanding how courts resolve such conflicts lies in the different nature of these duties. The duty of loyalty is a negative duty to avoid harm; it is a duty of omission. The duty of care is a positive duty to promote the interests of the principal, a duty to act. To explore the nature of the duties, the Article draws on Kant's discussion of perfect and imperfect duties. It explains that duties of care, like Kant's imperfect duties, can never be fully satisfied, but by enforcing the prohibitions imposed by the duty of loyalty, courts ensure that when the fiduciary acts, she acts consistently with the duty of care as well. The Article applies these principles to three types of fiduciaries: attorneys, financial firms, and company directors, explaining why courts treat a breach of the duty of care more leniently than a breach of the duty of loyalty, much like the common law has treated omissions more leniently than acts. The Article concludes that the theory presented not only justifies how courts resolve difficult cases, it also explains the behavior of individual fiduciaries, financial firms, and regulators.
| Author | : American Bar Association. House of Delegates |
| Publisher | : American Bar Association |
| Total Pages | : 216 |
| Release | : 2007 |
| Genre | : Law |
| ISBN | : 9781590318737 |
Download Model Rules of Professional Conduct Book in PDF, ePub and Kindle
The Model Rules of Professional Conduct provides an up-to-date resource for information on legal ethics. Federal, state and local courts in all jurisdictions look to the Rules for guidance in solving lawyer malpractice cases, disciplinary actions, disqualification issues, sanctions questions and much more. In this volume, black-letter Rules of Professional Conduct are followed by numbered Comments that explain each Rule's purpose and provide suggestions for its practical application. The Rules will help you identify proper conduct in a variety of given situations, review those instances where discretionary action is possible, and define the nature of the relationship between you and your clients, colleagues and the courts.
| Author | : Michael Ng |
| Publisher | : Canada Law Book |
| Total Pages | : |
| Release | : 2003 |
| Genre | : Trusts and trustees |
| ISBN | : 9780888043986 |
Download Fiduciary Duties Book in PDF, ePub and Kindle
| Author | : Lionel Smith |
| Publisher | : Oxford University Press |
| Total Pages | : 497 |
| Release | : 2023-05-11 |
| Genre | : Law |
| ISBN | : 019766458X |
Download The Law of Loyalty Book in PDF, ePub and Kindle
This monograph elucidates common legal principles underlying the use of juridical powers. It addresses both public law and private law, and examines both the common law and the civil law. It aims to provide a theory of how Western law regulates the situations in which we hold legal powers, not for ourselves, but for and on behalf of others. It does this by elucidating the justificatory principles that are attracted in those situations. These principles include that other-regarding powers can only properly be used for the purposes for which they were granted; that they should not be used when the holder is in a conflict of self-interest and duty, or a conflict of duty and duty; and that the holder is presumptively accountable for any profits extracted from the other-regarding role. These principles stand behind the detailed legal rules that govern these relationships in multiple legal systems and in multiple public and private settings. In private law this includes the powers of trustees, corporate directors, agents and mandataries; in public law it includes all powers held for public purposes, whether they be held by the Prime Minister, by a police officer, or by a judge.
| Author | : Tamar Frankel |
| Publisher | : |
| Total Pages | : 334 |
| Release | : 2011 |
| Genre | : Law |
| ISBN | : 019539156X |
Download Fiduciary Law Book in PDF, ePub and Kindle
In Fiduciary Law, Tamar Frankel examines the structure, principles, themes, and objectives of fiduciary law. Fiduciaries, which include corporate managers, money managers, lawyers, and physicians among others, are entrusted with money or power. Frankel explains how fiduciary law is designed to offer protection from abuse of this method of safekeeping. She deals with fiduciaries in general, and identifies situations in which fiduciary law falls short of offering protection. Frankel analyzes fiduciary debates, and argues that greater preventive measures are required. She offers guidelines for determining the boundaries and substance of fiduciary law, and discusses how failure to enforce fiduciary law can contribute to failing financial and economic systems. Frankel offers ideas and explanations for the courts, regulators, and legislatures, as well as the fiduciaries and entrustors. She argues for strong legal protection against abuse of entrustment as a means of encouraging fiduciary services in society. Fiduciary Law can help lawyers and policy makers designing the future law and the systems that it protects.
