{"id":7474,"date":"2017-11-09T03:45:11","date_gmt":"2017-11-09T03:45:11","guid":{"rendered":"https:\/\/reunitethestates.org\/?page_id=7474"},"modified":"2018-03-05T03:05:12","modified_gmt":"2018-03-05T03:05:12","slug":"fiduciary","status":"publish","type":"page","link":"https:\/\/reunitethestates.org\/?page_id=7474","title":{"rendered":"Fiduciary – someone owes to another the duties of good faith, loyalty, due care,\u00a0& disclosure in managing another’s\u00a0money or property"},"content":{"rendered":"

\u00a0\u00a0\u00a0\u00a0 This page is continued from Legal Precepts Adopted into U.S. Law (from Europe) through the Constitution<\/a> >>>> Equity Jurisprudence<\/a> >>>><\/span> Fiduciary Relationships<\/a>:<\/span><\/strong><\/p>\n

fiduciary<\/span>:<\/span><\/strong><\/span><\/p>\n

1. Someone who is required to act for the benefit of another person on all matters within the\u00a0<\/strong>scope of their relationship; one who owes to another the duties of good faith, loyalty, due care,\u00a0<\/strong>& disclosure.<\/strong><\/span><\/p>\n

2. Someone who must exercise a high standard of care in managing another’s\u00a0<\/strong>money or property. <\/strong>[1]<\/span><\/p>\n

1.<\/strong> Adjective<\/em>. Held or founded in trust or confidence.<\/strong> <\/span><\/p>\n

2.<\/strong> Noun<\/em>. <\/span>A trustee, at least where the trust is an express trust.\u00a0<\/span> Svanoe v Jurgens<\/em>, 144 Ill 507, 513, 33 NE 955<\/span>.<\/span><\/strong><\/span>
\n\u00a0\u00a0\u00a0\u00a0 The word embraces those and only those who are bound for the discharge of express trusts \u2014 technical trusts, where bond is required to e given by law \u2014 and it does not include those engaged in the execution of trusts springing from contract.<\/span>\u00a0 Barnard & Co. v Sykes<\/em>, 72 Miss 297, 302<\/span>.<\/span><\/strong> [2]<\/span><\/span><\/p>\n

1.<\/strong> Adjective<\/em>. That which is based upon trust or confidence; the relationship between a fiduciary and his principal.<\/strong><\/span><\/p>\n

2.<\/strong> Noun<\/em>. <\/span>A person who is entrusted with handling money or property for another person.\u00a0 EXAMPLES: attorney and client;<\/span> guardian and ward<\/a>; trustee and beneficiary.<\/span><\/strong> [3]<\/span><\/span><\/p>\n

\u00a0 \u00a0 \u00a0Excerpt from D.W.M. Waters,<\/span> The Constructive Trust; The Case for a New Approach in English Law<\/em><\/a>:<\/span><\/strong><\/span><\/p>\n

\u00a0 \u00a0 \u201c<\/span>The term ‘fiduciary’ is so vague that plaintiffs have been\u00a0<\/span><\/strong>able to claim that fiduciary obligations have been breached when\u00a0<\/strong>in fact the particular defendant was not a fiduciary stricto sensu\u00a0<\/em><\/strong>but simply had withheld property form the plaintiff in an\u00a0<\/strong><\/span>unconscionable manner.<\/span>\u201d <\/strong>[4]<\/span><\/p>\n

Also See:<\/span><\/strong><\/p>\n

fiduciary bond<\/span><\/a> – a type of performance bond<\/a> required of a trustee<\/a>, administrator, executor, guardian<\/a>. conservator, or other fiduciary<\/a> to ensure the proper performance of duties, as a condition for managing an estate<\/a>. <\/strong>\u2014 aka administrator’s bond<\/strong><\/em><\/span>.<\/span><\/p>\n

Various Types of Fiduciary Relationships<\/span><\/strong><\/a><\/p>\n

References:<\/span><\/strong><\/p>\n

Disclaimer:<\/span><\/span><\/strong> All material throughout this website is pertinent to people everywhere, and is being utilized in accordance with Fair Use<\/a>.<\/span><\/strong><\/p>\n

[1]\u00a0Black’s Law Dictionary Deluxe Tenth Edition by Henry Campbell Black & Editor in Chief Bryan A. Garner<\/a>. ISBN: 978-0-314-62130-6<\/span><\/strong><\/p>\n

[2]: Ballantine\u2019s Law Dictionary\u00a0<\/a>with Pronunciations
\n<\/em>Third Edition<\/a>\u00a0by James A. Ballantine\u00a0(James Arthur 1871-1949).\u00a0\u00a0<\/em>Edited by William S. Anderson.\u00a0\u00a0\u00a9 1969 by THE LAWYER\u2019S CO-OPERATIVE PUBLISHING COMPANY.\u00a0 Library of Congress Catalog Card No. 68-30931<\/strong><\/span><\/p>\n

[3]:\u00a0\u00a0Ballantine\u2019s Law Dictionary <\/a>Legal Assistant Edition<\/a><\/em>
\nby Jack Ballantine\u00a0<\/strong>(James Arthur 1871-1949).\u00a0\u00a0<\/em>Doctored<\/a><\/strong>\u00a0<\/em>by\u00a0Jack G. Handler,\u00a0J.D.<\/a>\u00a0\u00a9 1994 Delmar by Thomson Learning.\u00a0 ISBN 0-8273-4874-6.<\/strong><\/span><\/p>\n

[4]: D.W.M. Waters, The Constructive Trust; The Case for a\u00a0<\/em><\/a><\/strong>New Approach in English Law<\/strong><\/em><\/span><\/p>\n

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