FRAUD I BREACH OF FIDUCIARY DUTY – What Fiduciary Duties are Owed? A Fiduciary owes the Duty to use Reasonable Care. What happens if a fiduciary breaches their duty to use Reasonable Care?
January 09, 2020
A Fiduciary owes a Duty to Use Reasonable Care
A fiduciary is an individual or corporation to whom property or power is entrusted for the benefit of another. Fiduciaries must prudently care for any such assets, and may also have a number of additional obligations including the Duty to Use Reasonable Care.
What Is Duty of Care?
Duty of care refers to a fiduciary’s responsibility 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 to use reasonable care 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.
What happens if Defendant breaches duty to use Reasonable Care? A Plaintiff can bring a cause of action for Failure to Use Reasonable Care
In order to prevail in an action for breach of Fiduciary Duty, more specifically a fiduciary’s failure to utilize reasonable care a plaintiff must establish the following:
If a plaintiff claims that s/he was harmed by Fiduciary’s breach of the duty to use reasonable care, in order to establish this claim, the plaintiff must prove all of 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.