Abstract:Abstract Fiduciary theorists cannot agree on the minimum content of fiduciary loyalty. Some think that loyalty requires the avoidance of conflicts of interest. Others think that loyalty requires a fid...Abstract Fiduciary theorists cannot agree on the minimum content of fiduciary loyalty. Some think that loyalty requires the avoidance of conflicts of interest. Others think that loyalty requires a fiduciary to act in what he or she perceives are the beneficiary's best interests. Yet others conclude that loyalty amounts to the terms of a hypothetical bargain, in a world of zero transaction costs. Each approach is problematic. The various conceptions of fiduciary loyalty are not readily reducible into each other, and for each leading conception the law provides important counter-examples. It is possible to find common features to fiduciary loyalty in its many settings, but this requires a very thin account of what it is to be loyal. Recognizing the variations in fiduciary loyalty, however, may tell us something significant about fiduciary law. This chapter indicates how variable fiduciary loyalty is, and it offers an initial exploration of why this matters.Read More
Publication Year: 2014
Publication Date: 2014-08-14
Language: en
Type: book-chapter
Indexed In: ['crossref']
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Cited By Count: 7
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