FRAUD I BREACH OF FIDUCIARY DUTY – What Fiduciary Duties are Owed? A Fiduciary owes the Duty of Undivided Loyalty. What happens if a fiduciary breaches their duty of Undivided Loyalty?
January 16, 2020
A Fiduciary owes a Duty of Undivided Loyalty
A fiduciary is an individual or corporation to whom property or power is entrusted for the benefit of another. Fiduciaries must not undertake or participate in activities adverse to the interests of his principal; moreover, a fiduciary must disclose any conflicting actions undertake or potentially competing activities; both of these obligations are encompassed in a Duty of Undivided Loyalty.
What Is a Duty of Undivided Loyalty?
Duty of undivided loyalty requires a fiduciary to live up to a certain standard of care when entrusted with a third party’s property and/or when acting on behalf of a third party. The duty of undivided loyalty is both an ethical and legal obligation, requiring a fiduciary to make decisions in good faith and in a reasonably prudent manner. The fiduciary is required to exercise the utmost care in making business decisions to fulfill their obligation(s).
What happens if Defendant breaches the duty of undivided loyalty? A Plaintiff can bring a cause of action for breach of loyalty.
In order to prevail in an action for breach of Fiduciary Duty, more specifically a fiduciary’s breach of loyalty, a plaintiff must establish the following:
Related Articles and Publications
Articles discussing Fiduciary Duties exclusively are listed below:
Causes of Action for Fraud and Breach of Fiduciary Duty in California: For other articles discussing the various causes of action for Fraud in California, links are included below:
For Fraud and Breach of Fiduciary Verdicts in California: Our articles discussing Fraud verdicts in California are included below:
Fraud Damages: Our articles discussing Fraud damages in California are included below:
Recovery from the Victims Of Corporate Fraud Compensation Fund of California: For articles discussing damages:
If you have fallen victim to fraud or have questions or fiduciary dutieswe encourage you to contact our offices at 619-432-5145 for a free consultation with one of our fraud attorneys and breach of fiduciary duty lawyers.