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Breach of a Fiduciary Duty

Business and Commercial Torts : Breach of a Fiduciary Duty

A fiduciary relationship is based on trust and confidence between the parties where one party puts his or her trust in the other party.  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.  Therefore, a cause of action for breach of a fiduciary duty is founded on a fiduciary relationship.  A plaintiff may file a claim for breach of a fiduciary duty as either a negligent or intentional tort. 

A plaintiff whom has been injured as a result of a breach of a fiduciary relationship or duty, should consult with a West Palm Beach business lawyer specializing in a 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.  The relation need not be legal, and the relation and correlative duties of a fiduciary need not be formal.  However, the relation and correlative duties may be moral, social, domestic, or personal.  Additionally, the mere fact that a person reposes confidence does not in itself establish a confidential or fiduciary relation.  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.
  

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