The Scope of Fiduciary Obligations: How Contract Informs, But Does Not Determine, the Scope of Fiduciary Obligations

Journal of Equity, Vol. 3, No. 3, pp. 181-203, 2009

Sydney Law School Research Paper No. 10/26

20 Pages Posted: 22 Feb 2010 Last revised: 28 Feb 2010

Mark Leeming

The University of Sydney Law School

Date Written: 2009

Abstract

This article concerns one aspect of the interrelationship between law and equity. The scope of the fiduciary obligations owed by trustees, partners and other fiduciaries whose status is sourced in contract depends substantially, but not wholly, on what that contract has provided. That in large measure is a consequence of the fact that those heightened obligations depend on the status given to the fiduciary by virtue of the contract and the fact that they may be discharged by informed consent. But contract is not decisive, for the parties' conduct, as well as their promises, can add to and subtract from the extent to which they are subject to heightened fiduciary obligations. This article seeks to explain how those mechanisms operate.

Keywords: Equity, Fiduciary, Scope, Contract, Trustee, Director, Exclusion Clause

JEL Classification: K10, K12, K30

Suggested Citation

Leeming, Mark, The Scope of Fiduciary Obligations: How Contract Informs, But Does Not Determine, the Scope of Fiduciary Obligations (2009). Journal of Equity, Vol. 3, No. 3, pp. 181-203, 2009; Sydney Law School Research Paper No. 10/26. Available at SSRN: https://ssrn.com/abstract=1556828

Mark Leeming (Contact Author)

The University of Sydney Law School ( email )

New Law Building, F10
The University of Sydney
Sydney, NSW 2006
Australia

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