JSB171 Lecture Notes - Lecture 1: Fiduciary, Australian Securities Exchange, Kpmg
Document Summary
= requirement of proprietary of conduct exceeding tortious duty of care or obligations in contract; a must remain loyal to b: often coexist with other duties (contractual, duty of care, etc) Prohibitive rather than prescriptive: breen v williams: no conflict duty fiduciary cannot place himself in conflict of interests. Duty-interest conflict between fiduciary duty and own interest. Reasons o o: where common law relief excluded (eg limitations) or reduced (eg no action at common law. Opens door to other equitable remedies contributory negligence) For this reason, courts reluctant to impose fiduciary duty too regularly. Until relationship ceases to satisfy fiduciary requirements o. In some cases fiduciary duties will subsist beyond relationship or contract o. As may contractual duties (eg restraint of trade) E. g. end of contract: pilmer v duke group (2) establishing fiduciary duty: based on characteristics of the relationship (1) Principle is uncertain and depends on the case: categories not closed.
