The following Corporate practice note provides comprehensive and up to date legal information covering:
This Practice Note summarises the traditional fiduciary duties of company directors, including the duty to act in the best interests of the company, the no conflict and no profit principles, and the equitable duty of confidence. It also considers the remedies for breach of the duties, and also the various ways in which a director may be relieved of the consequences of a breach, namely ratification, indemnity and insurance.
A fiduciary duty indicates a relationship of trust, assurance or confidence between two or more parties.
While there is no inherent limit to the types of relationship that would be construed as fiduciary under the common law, some relationships are automatically fiduciary, eg those between trustee and beneficiary, solicitor and client, principal and agent, business partner and co-partners, mortgagor and mortgagee.
Other relationships will be characterised as fiduciary if one person has agreed to act for or on behalf of another in circumstances where a relationship of trust and confidence is deemed to have arisen (eg between a family member and an elderly relative, or between co-venturers in a joint property venture). The principal touchstone appears to be the existence of an obligation of loyalty, although each category of relationship, and indeed every case, falls to be determined according to its particular circumstances.
Exceptionally, it seems that a fiduciary duty may be imposed to correct
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Practical completion marks the end of the construction period of a project, when the works are 'finished' and the employer can occupy and/or use them. Practical completion also typically marks the start of the defects liability period/maintenance period.As explained below, practical completion is an
What is a res judicata?A res judicata is a decision given by a judge or tribunal with jurisdiction over the cause of action and the parties, which disposes, with finality, of a matter decided so that it cannot be re-litigated by those bound by the judgment, except on appeal.Final judgments by
This Practice Note considers proprietary estoppel from a generic standpoint.For industry specific guidance on proprietary estoppel, see Practice Notes:•Estoppel and property law•Mortgages by estoppelProprietary estoppel—what is it?Unlike the other forms of estoppel (see Practice Note: Estoppel—what,
Involuntary manslaughter—introductionManslaughter can be classified as either voluntary or involuntary. Voluntary manslaughter consists of those killings which would be murder (because the accused has the relevant mental element—hence the label voluntary manslaughter) but which are reduced to
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