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Essay / Research Paper Abstract
The case of Goldcrop Exchange Ltd (in receivership) [1994] 2 All ER, saw Lord Mustill state that the presence of a contractual relationship would not automatically exclude the presence of fiduciary duties. This 9 page paper looks at the concept of fiduciary duty, where and how it arises, and the way it may be seen as complimenting or undermining contractual duties. The paper is written with specific reference to English and Canadian law. Numerous cases are cited. The bibliography cites 6 sources.
Page Count:
9 pages (~225 words per page)
File: TS65_TEfiduties.doc
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Unformatted sample text from the term paper:
preclude the potential of a fiduciary duty. The comment was alluding to the way in which the obligations created by a fiduciary relationship differ from those created by a contract,
but are not mutually exclusive. To appreciate how and why this may be stated and the way it manifests it is necessary to look at the concept of fiduciary duty
the way it emerges and how it may be interpreted by the courts. In this paper there will be particular attention paid to the concept in the English and Canadian
courts. The word fiduciary comes from the Latin term fiducia which translates as trust or confidence (Edelman, 2010, p306). It is found in Roman law as a pactum, meaning
it was an appendage to a conveyance; primarily utilised to direct a property holder to their obligations relating to that property (Buckland, 2009, p431). One example was fiducia cum amico,
this is a practice which is still found today in civilian jurisdictions; where a person receives assets in good faith, with an obligations to use them in a particular manner
(Edelman, 2010, p306). Frankel (2011, p1290) argues that the concept of fiduciary duty is the concept of trust, and is used to regulate relationships that should be based on
reasonable trust, with this being necessary for social and economic purposes. In English law the concept of fiduciary duty was intially based on status, with the one
owning the duty being seen as a trustee (Edelman, 2010, p306). There are a number of examples of this concept, one of the most commonly used is that of a
company director and the power they are grated in the way that company property is utilised (Edelman, 2010, p306). However, the association of the duty with status and the link
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