Fiduciary duties

Research output: Chapter in Book/Report/Conference proceedingEntry for encyclopedia/dictionary

Abstract / Description of output

Fiduciary duties arise in legal relations where one party, the fiduciary, acquires decision-making authority over the interests of another party, the beneficiary. The fist party becomes bound by a set of duties aimed at ensuring that he exercises his discretion in the best interests of the beneficiary, to the exclusion of his own interests or the interests of third parties. Fiduciary duties are strictly enforced by the courts, in order to ensure a proper exercise of discretion by the fiduciary and to preserve the utility of fiduciary relations.
Original languageEnglish
Title of host publicationEncyclopedia of Law and Economics
EditorsAlain Marciano, Giovanni Ramello
Place of PublicationNew York
PublisherSpringer-Verlag
Pages1-8
Number of pages8
Edition1st
ISBN (Print)9781461477549
Publication statusPublished - 1 Oct 2017

Keywords / Materials (for Non-textual outputs)

  • fiduciary duties
  • conflict of Interest

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