| Lawsuits for breach of fiduciary duty often arise | | | | contract action into a breach of fiduciary duty |
| in partnership or shareholder litigation. As per | | | | case. |
| California's Supreme Court duty is defined as | | | | So, if you are in a belief and suspect that you are |
| arising whenever trust and confidence is reposed | | | | the victim of a breach of fiduciary duty, then |
| by one person in the integrity and fidelity of | | | | without any delay immediately contact an expert |
| another and that person obtains control over the | | | | lawyer. It is recommendable to always seek help |
| other person's affairs. In simpler terms, it is a legal | | | | of an experienced lawyer having a track record |
| relationship evolving between two or more | | | | of resolving numerous cases. |
| members involving the legal responsibility for: | | | | In some instances a fiduciary duty can be defined |
| - Investing Money | | | | by the parties themselves in their contract. For |
| - Acting for a party's benefit | | | | example, California law has recognized that a real |
| - Disclosing all material facts | | | | estate broker may draft an agency agreement |
| - Employing logical care to avoid clients that | | | | which states that the relationship between the |
| misleads | | | | broker and the purchaser or seller is at |
| Examples are Corporate board members, | | | | arm's-length and is neither confidential nor |
| Mortgage brokers, Financial planners or business | | | | fiduciary. |
| partners acting and serving as fiduciaries. Basically | | | | A breach of fiduciary lawsuit in California must |
| fiduciaries are those people having some authority | | | | include the following elements: |
| to exercise. In a partnership lawsuit you will often | | | | (1) a fiduciary duty, |
| see causes of action for breach of contract (the | | | | (2) a breach of that fiduciary duty, and |
| partnership agreement), fraud (a partner | | | | (3) damage arising from that breach of duty. |
| misrepresented or concealed a material fact), | | | | The plaintiff will have the burden of proving that |
| breach of fiduciary duty (the partner betrayed | | | | the defendant had a fiduciary towards him or her |
| the plaintiff) and accounting (let's figure out how | | | | and that the plaintiff breached that duty. |
| much the partner stole or how much damage he | | | | Moreover, plaintiff must prove that some damage |
| caused). | | | | arose from the breach of the duty. |
| If one party made a misrepresentation or | | | | As a general rule, it is a question of fact whether |
| concealed material facts from another party, a | | | | a fiduciary founded upon a contract exists. This |
| cause of action for fraud may be appropriate but | | | | means that it may be difficult to resolve a breach |
| not necessarily a cause of action for breach of | | | | of fiduciary duty lawsuit on a motion for |
| fiduciary duty. The fact that two parties may | | | | summary judgment. The court or the jury will |
| share in the profits of an endeavor or be | | | | need to hear testimony and weigh the credibility |
| contractually entitled to an accounting against each | | | | of the parties in order to make a determination |
| other similarly does not transform a breach of | | | | as to who is telling the truth. |