References in periodicals archive ?
Despite the obvious connection between property and fiduciary duty in the trust context, property-based theories of fiduciary duty have not commanded widespread support because so many fiduciary relationships appear to exist without the requisite property.
Smith v Atlantic Properties, Inc, 12 Mass App Ct 201, 201-208, 422 NE2d 798, 800-03 (1981) (25% shareholder owed fiduciary duty to closely held corporation where 80% vote was required to declare a dividend); Hagshenas at 69, 557 NE2d at 322; Illinois Rockford at 223, 242 NE2d at 233-34 (two 50% shareholders of a corporation owed fiduciary duties to each other, and a fiduciary relationship exists in all situations in which a confidential relationship has been established).
Given the facts in the two preceding cases, the courts were willing to supplement a creditor's contractual protections with fiduciary duty protections.
The sponsor-designated members claimed that since they were appointed by the sponsor even before any condominium unit was sold, their duties and loyalty were owed to the sponsor who appointed them and that they had no fiduciary duty to the condominium or to the unit owners.
This book explores the application of concepts of fiduciary duty or public trust in responding to the policy and governance challenges posed by policy problems that extend over multiple terms of government or even, as in the case of climate change, human generations.
Earlier this year, the appellate courts in both California and New York handed down decisions addressing whether an insurance agent or broker owes a fiduciary duty to its client.
Courts in recent years have imposed a fiduciary duty on persons in numerous other types of relationships.
This court did not disturb the jury's decision that Baker Botts and Wells Fargo failed to comply with their fiduciary duty to Mrs.
Fiduciary duty is imposed on a person who accepts being placed in a position of great trust by another individual or entity and, as a result, is required to fulfill important legal responsibilities in exercising that trust.