Fiduciary Relationship Essay

A fiduciary duty is defined by the Wex Legal Dictionary as, “a legal duty to act solely in another party's interests” and goes on to elaborate that, “fiduciaries may not profit from their relationship with their principals unless they have the principals' express informed consent. They also have a duty to avoid any conflicts of interest between themselves and their principals or between their principals and the fiduciaries' other clients”. When Telemachus formed the Delta & Delta Realty Trust in August of 1971 with funds meant for Evanthea’s benefit, he breached his fiduciary duty, causing her injury. This pattern continued, as Telemachus proceeded to fraudulently transfer interest payments intended for Evanthea to the Delta & Delta Realty Trust, improperly enriching himself beginning January 2, 1973 and onward through to 1987, wrongfully redeeming shares of stock belonging to members of George’s surviving family for his own benefit, that of his family, to friends, and to his own business. In order to find these actions fraudulent, one must prove that there was an intentional misrepresentation of facts that were reasonably relied upon by the injured parties, which were the proximate cause of injury and damages. When Telemachus intentionally drew funds without the knowledge or consent of

RULE OF LAW: Corporate promoters owe a fiduciary duty to one another, the company, its

Profit retention – In a partnership profit and losses are shared unless partners agree to

The court verified that a person is a partner and jointly liable with others in the firm “if his agreement with them is that he should be paid by the firm a fixed sum, irrespective of profits, for work done by him”.

When it comes to partnerships Alex, Bill, Carl, and Devon will have two options- a general partnership or a limited partnership. Partnerships are beginning to be a business form of the past. Once upon a time, partnerships were “the default form of business and provided the benefit of pass-through taxation, but lacked the important feature of limited liability” (Chrisman, 2010, p. 465). In a general partnership, each partner associated with the entity will be held liable for their own business decisions as well as

of Teamsters v. Willis Corroon Corp., 369 Md. 724, 727 n.1 (2002); Kann v. Kann, 344 Md. 689, 693 (1997) (“[A]llegations of breach of fiduciary duty, in and of themselves, do not give rise to an omnibus or generic cause of action at law that is assertable against all fiduciaries.”). Fiduciary obligations may surely arise by means of contract, the imposition of a duty in tort, or some other sort of relationship, and when they do, “[c]ounsel are required to identify the particular fiduciary relationship involved, identify how it was breached, consider the remedies available, and select those remedies appropriate to the client's problem.” Kann, 344 Md. at

An agency relationship is a fiduciary relationship that is created with a written contract or oral agreement.

Throughout the case, it can be analyzed and expected to say that Deloitte & Touche have committed a breach to its fiduciary duty to Vertical Pharmaceutical at the end. Vertical Pharmaceuticals Inc., realized a huge loss as a result by Deloitte & Touche. Therefore, this shows that Deloitte & Touche did indeed breach their fiduciary duties. All the falsified reports and malpractices that were said to be revealed by Deloitte & Touche would be said to not be real by the forensic audit that was conducted. At the end, the court can rule that Deloitte & Touche did indeed breach their fiduciary duty to Vertical Pharmaceuticals.

3.3 Analyse the potential tension between maintaining confidentiality with the need to disclose information a) where abuse of a child or young person is suspected b) when it is suspected that a crime has been/may be committed.

The treatment of conflicts of interest and other ethical dilemmas that may arise in investment decisions.

1.1 Key principles of relationship theories - Stage theories in general describe how we go through distinct stages as we develop. Thus, rather than gradually changing, we typically make sudden shifts to different plateaus of perception and behaviour.

Issue 2: Has Patricia breached her duty to act in good faith in the best interests of the company when advising her sister Faye, that SEPL were buying a large amount of shares in FPPL?

I think the reason there’s conflict between PPI and the attorneys ethics is because PPI is looking in the best interest of its employees and the

Personal responsibility to me means taking accountability for your own actions, Making a commitment and sticking to it. In order to be a success in college, you have to apply your life learned lessons to the equation, to balance both school and out of school priorities. Because You are responsible for the choices you make, you are ultimately responsible for your success. Becoming a master organizer and learning how to manage your time efficiently, will help you achieve your goals. Taking responsibility for all that happens while you are in college will help you prevail in areas, where you may have lacked confidence. Critical thinking and a desire to succeed will help you accomplish your goals.

The topic I have chosen for my paper is that of relationship between parents and children. Some of the points that I will be discussing are child abuse, child neglect and how it can affect a child and the relationship with the parents.