Fiduciary Remedies

Abstract

This chapter offers an overview and analysis of fiduciary remedies. The remedies considered are accounting for profits, constructive trust, equitable compensation (also called equitable damages, damages, or surcharge), injunction, unwinding remedies (e.g., rescission), and supervisory remedies (e.g., instruction, removal). The chapter also considers three major unsettled questions: whether the remedial aims of fiduciary law are distinct from other fields, how to think about fiduciary remedies in light of the law/equity distinction, and the legitimacy of punishment in fiduciary remedies.

Keywords: fiduciary, remedies, accounting for profits, accounting, disgorgement, constructive trust, equitable compensation, damages, surcharge, injunction, rescission, equity, trust, trustee, agency

JEL Classification: K19, K39, K42