Bristol and West Building Society v Mothew, 1998 Ch 1
Citation:Bristol and West Building Society v Mothew, 1998 Ch 1
Rule of thumb: What is meant by a fiduciary duty? Where an agent is instructed in a matter which requires an obligation of trust and confidence. This brings extra duties such as good faith, trust, no conflict of interest etc.
Judgment:
‘A fiduciary is someone who has undertaken to act for or on behalf of another in a particular matter in circumstances which give rise to a relationship of trust and confidence. The distinguishing obligation of a fiduciary is the obligation of loyalty. The principal is entitled to the single-minded loyalty of his fiduciary. This core liability has several facets. A fiduciary must act in good faith; he must not make a profit out of his trust; he must not place himself in a position where his duty and interest may conflict; he may not act for his own benefit or the benefit of a third person without the informed consent of his principal’, Millet LJ
Warning: This is not professional legal advice. This is not professional legal education advice. Please obtain professional guidance before embarking on any legal course of action. This is just an interpretation of a Judgment by persons of legal insight & varying levels of legal specialism, experience & expertise. Please read the Judgment yourself and form your own interpretation of it with professional assistance.