Fiduciary Agreement Deutsch

An agent`s conduct can be considered constructive fraud if it is based on acts, omissions or cover-ups considered fraudulent, and this gives an advantage to one over the other, because such conduct – even if it is not really fraudulent, dishonest or misleading – requires redress for public policy reasons. [84] A breach of fiduciary tax may occur in the context of an insider trading where an insider or related party acts on securities of a company on the basis of essential non-public information obtained during the performance of the insider`s obligations to the company. violation of a lawyer`s duty to retain a client, if negligent, can be a form of abuse of law; If the intent is intended, it can be corrected in equity. [85] [86] An agent, such as the administrator, executor or guardian of an estate, may be legally required to file a security loan, called a fiduciary loan or estate loan, with an estate court to ensure that his obligations are met faithfully. [75] One of these tasks may be to draw up, usually under oath, an inventory of the estate`s material or intangible assets, to describe heritage assets or classes, and, as a general rule, to conduct an assessment. [76] A profit account is the appropriate remedy, for example when an officer has taken advantage of his fiduciary position by running his own business in the process and has made a series of profits over a period of time, profits that he would not otherwise have been able to make. However, an agent who violates profits may receive compensation and ingenuity that is devoted to making a profit. The importance of the disclosure obligation is obvious if we compare a claim related to a breach of the trust obligation and a declaration of fraud. In the event of fraud, the applicant must find or prove that an omission or misrepresentation was material; That the defendant did intend to avail itself of the disclosure and that the use of that information was appropriate. [11] On the other hand, cases of trust do not require such limitations and conditions to make a successful claim.

An agent`s obligation must not conflict with another fiduciary duty. [21] [39] [77] Conflicts between a trust obligation and another loyalty obligation are most common when a lawyer or real estate agent, for example, represents more. B of a client and that the interests of these clients are in conflict. [24] This would occur when a lawyer attempted, for example, to represent both the plaintiff and the defendant in the same case. The rule stems from the logical conclusion that an agent cannot make the interests of the client the top priority if he has two main principles and that their interests are diametrically opposed; it must balance interests, which is not acceptable for justice. Therefore, the conflict between obligation and duty is really an extension of the conflict of interest and customs rules. The most common circumstance for which a duty of trust is between an agent, real or legal, and a beneficiary. The agent to which the property is legally bound is the rightful owner – that is, the common law – of all these properties.

The beneficiary has no legal right to trust under the law; However, the agent is bound by equity, his own interests and the management of the property for the benefit of the beneficiary. In this way, the beneficiary obtains the operation of the property without being its technical owner. As we shall see in this document, the standard forms attempted to absolve the Operator of liability as an agent, thereby freeing operators from liability in the event of damages, costs, losses, charges and liabilities resulting from the performance or non-performance, or, in common or at the same time), intentional misconduct, gross negligence. , serious liability and other legal faults of the operator. [4] [18] Hendrix, P., Stanton L.T., the standard for the maintenance of oil and gas properties.