What is a fiduciary duty?

A fiduciary duty is the highest standard of care one can owe to another. The fiduciary relationship is one of trust and confidence. The person or institution who owes the fiduciary duty must put the person’s interests above his or her own interests. Common examples of fiduciary duty include power of attorney holders, executors in wills, and trustees of trusts.

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business litigation, fiduciary duty, probate litigation, trusts, wills

This entry was posted on 28/06/2009, 4:14 pm and is filed under Business law, Estate planning and probate, Insurance Law, Litigation and judgments. You can follow any responses to this entry through RSS 2.0. You can leave a response, or trackback from your own site.

#1 by ryan on 16/11/2009 - 2:27 am

I paid someone to build a website. He gambled my money on another business venture and lost. Was this a fiduciary breach?

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#2 by David Leon on 13/06/2010 - 8:28 am

I don’t know that he would owe you a fiduciary duty, but this could be fraud. Fraud would mean that at the time he took the money from you, he had no intent of delivering the work. This may be a tall order. You more than likely have a breach of contract case.

Leon Law Firm, (214) 696-0021