Fiduciary duties Flashcards
1
Q
what is a fiduciary duty
A
a duty of care owed by T to B
2
Q
What are T’s fiduciary duties to B
A
follow trust doc
no profit (unless B authorised)
no conflict of interest (T and trust / T and B)
not for their own advantage or 3rd party’s (unless B consents)
properly invest property
act with good faith for B’s interests.
3
Q
What if a fiduciary duty is breached
A
Court can order T to return any financial benefit to B
4
Q
Defence against breach of fiduciary duty
A
B authorised it prior to it occuring.
