Certain relationships create what are known as “fiduciary duties.” A fiduciary is a person or entity that owes a special duty to another by virtue of that individual’s superior knowledge and information in a particular area and another’s dependence on them. A breach of this special duty may result in dire circumstances for the fiduciary, ranging from fraudulent financial transactions to conflicts of interest that result in a personal advantage for the fiduciary. If you have been involved in a breach-of-fiduciary-duty case, it is advised that you consult with an experienced Orange County business litigation lawyer as to what legal remedies are available in your particular situation.
Professionals in the business world, such as investment advisors, real estate and mortgage brokers, and attorneys, all have a fiduciary duty to act in their client’s best interests. Even within the structure of a business, corporate board members owe a fiduciary duty to their shareholders.
In other words, a fiduciary obligation exists when the relationship involves a special trust, confidence, and reliance on the fiduciary to exercise some type of discretion or expertise in acting for the client. When the fiduciary enters into a relationship with a client, the fiduciary must knowingly accept that trust and confidence to exercise his expertise and discretion. If the fiduciary fails to represent his client with such trust and confidence, he has breached his fiduciary duty and the client can purse legal matters with the assistance of a reputable Orange County business litigation lawyer.
A person acting in a fiduciary capacity is held to a high standard of honesty and full disclosure in regard to the client. The law forbids the fiduciary from engaging in certain practices, such as obtaining a personal benefit at the expense of the client. Additionally, the fiduciary is prohibited from acting in any manner adverse or contrary to the interests of the client. The client deserves the best efforts of the fiduciary in exercising all of the skill, care, and diligence at his disposal to provide the best representation possible.
For an analysis of your case involving a breach of fiduciary duty, schedule an appointment with a knowledgeable Orange County business litigation lawyer at the Daily Aljian law firm today.