Dimensions of Fiduciary Loyalty
Forthcoming in: D. Gordon Smith & Andrew S. Gold, eds., Research Handbook on Fiduciary Law (Edward Elgar, 2018)
29 Pages Posted: 8 Jul 2016 Last revised: 17 Feb 2018
Date Written: June 30, 2016
This essay discusses the concept of loyalty in fiduciary law. It contrasts fiduciary loyalty with moral conceptions of loyalty, and argues that the distinctiveness of fiduciary loyalty is best appreciated in light of characteristic features of fiduciary relationships. The essay establishes the distinctiveness of fiduciary loyalty by examining: (a) the objects of loyalty in fiduciary relationships; (b) the standards of loyalty that constrain the behavior of fiduciaries in fiduciary relationships; and (c) the functions served by the fiduciary duty of loyalty.
Keywords: Philosophy of Private Law, Private Law Theory, Fiduciary Law, Fiduciary Relationships, Fiduciary Duties, Duty of Loyalty, Moral Loyalty
JEL Classification: K00, K10, K11, K12, K13, K20, K22
Suggested Citation: Suggested Citation