LAWS 2202 Lecture Notes - Lecture 9: Fiduciary
25 Jan 2017
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Historiclly the english sytem included both a vourt of the kings bench and the court of chancery. Court of chanceryss initial role was an extention of the lord chancellors role of keeper of the kings. Tort: implicit obligations owed between persons to avoid undue harm. Obligations which are recognized, created or abrogated by the courts on the basis of good conscience. Equity or judges equitable jurisdiction focuses on rememdies for situations ill covered by traditional legal principles. Contract: explict obligations enacted through the excerise and informed will. General standards of loyalty, good faith and avoidance of a conflict of interest to which the conduct of a director or senior office must conform, must be tested. Fiduciary obligation: obligation to act in the interst of another. Strongly associate with notions of trust loyalty and reliance of another party. Deglman v. guaranty trust co. of canada and constantineau (1954)
