Towards Universal Fiduciary Principles
35 Pages Posted: 23 Feb 2012
Date Written: February 22, 2012
This Article focuses on unifying fiduciary law in Civil Law and the Common Law systems. The problems that fiduciary law addresses are similar throughout history and in all societies. However, the legal systems which address these problems differ. While in the Common Law fiduciary law is founded on property law, in the Civil Law similar fiduciary principles are found in the category of contract. However, the reach and basis of contract law in each system differ. Common Law judges tend to strictly enforce the parties’ contract terms while Civil Law allows for far more judicial discretion to impose fairness principles on the parties’ contract terms. This Article offers a number of ways in which the two systems of law can coincide and concludes and suggests by-passing the differences between the two systems by focusing on the results reached in each and at the same time following the models of dual systems.
Keywords: Fiduciary Law, Coporate Law, Civil Law, Comparative Law
JEL Classification: K22, K29, K33, K39
Suggested Citation: Suggested Citation