LAWS 2202 Lecture Notes - Lecture 11: Fiduciary, Disclose, Trust Law
14 Dec 2019
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Law requires transparency and predictability, but also flexibility. November 18, 2019 fiduciary obligations (p. 361) on the exam. Have to know not only what law is, but what law is for. Fiduciary concept depend on facts is too uncertain. Too much certainty however results in excessive rigidity and inflexibility just plains outside the w/o a remedy. The problem with the fiduciary concept is that: you don"t know when you are a fiduciary it depends on the facts. It"s too flexible (this is a good thing too because it lets judge"s leeway to help you out), it"s too uncertain. Facts: principle of plaintiff corporation secretly set up separate corporation and complete with employer by taking a corporate opportunity for their new corporation, director of a company has the fiduciary duty to not steal from the company. Issues: whether directors" fiduciary duty not to complete survived their resignation from their employer, the plaintiff.
