A cause of action for breach of a fiduciary duty is founded on the fiduciary relationship between the parties which is based on trust and confidence, where confidence is reposed by one party and trust is accepted by the other. The abuse of a fiduciary or confidential relationship may be regarded as fraudulent and the defendant may be held liable for damages. The liability of a defendant is not solely dependent upon an agreement or contractual relationship between the fiduciary and the beneficiary, but it results from the actual relationship. Accordingly, a fiduciary who commits a breach of his or her duty is guilty of tortious conduct to the person that he or she owes a fiduciary duty to.

A plaintiff may file a claim for breach of a fiduciary duty as either a negligent or intentional tort. To establish a cause of action for breach of fiduciary duty under Florida law, a plaintiff must the allege the following elements:

• A defendant owed a duty to the plaintiff;
  
  

  The defendant breached the duty;

  The defendant's breach was the proximate cause of the plaintiff's injury; and

  The plaintiff's damages resulted in the plaintiff's injury.

  In a cause of action for breach of a fiduciary duty, a West Palm Beach business lawyer will advise a plaintiff that where confidence is reposed by one party and a trust accepted by the other, or where confidence has been acquired and abused, that is sufficient as a predicate for relief. In order to establish a cause of action for breach of fiduciary duty, the relation and correlative duties of a fiduciary need not be legal or formal; however, the relation and correlative duties may be moral, social, domestic, or personal. Additionally, the fact that one party places trust or confidence in the other does not create a confidential relationship in the absence of some recognition, acceptance, or undertaking of the duties of a fiduciary on the part of the other party. For instance, the fact that the parties to a business transaction are acquaintances and belong to the same religion does not necessarily give rise to a fiduciary relationship.

  A cause of action for breach of a fiduciary duty may have many complex issues. Therefore, you should consult with an experienced West Palm Beach business lawyer. Call Sharmin & Sharmin P.A. at 1-800-74-TRIAL.