Fiduciary Relationships: Ensuring the Loyal Exercise of Judgement on Behalf of Another

(2014), 130 Law Quarterly Review 608-634

King's College London Law School Research Paper No. 2015-20

27 Pages Posted: 4 Feb 2015 Last revised: 22 Apr 2019

See all articles by Lionel Smith

Lionel Smith

McGill University, Faculty of Law, Paul-André Crépeau Centre for Private and Comparative Law; University of Oxford - Faculty of Law

Date Written: July 3, 2014

Abstract

In this article, I present a theory of fiduciary relationships that seeks to address both the justification and the content of fiduciary duties. It will also address the question of remedies, which sheds important and neglected light on the question why this part of the law has the shape that it does. All three aspects — the reasons we impose these duties, what these duties require, and the remedies associated with them — are linked to one another in a conceptual unity that reveals the interlocking aspects of private law’s concern with relationships in which one person is empowered to exercise decision-making authority on behalf of another.

Keywords: Fiduciary obligations, loyalty, trusts, trustees, agency, partnership, directors, corporations, executors

JEL Classification: K1

Suggested Citation

Smith, Lionel, Fiduciary Relationships: Ensuring the Loyal Exercise of Judgement on Behalf of Another (July 3, 2014). (2014), 130 Law Quarterly Review 608-634, King's College London Law School Research Paper No. 2015-20, Available at SSRN: https://ssrn.com/abstract=2559974

Lionel Smith (Contact Author)

McGill University, Faculty of Law, Paul-André Crépeau Centre for Private and Comparative Law ( email )

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Montreal, Quebec H3A 1W9
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HOME PAGE: http://www.mcgill.ca/law/about/profs/smith-lionel

University of Oxford - Faculty of Law ( email )

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