Internal Code: 1HJCF
Law Essay Writing Assignment:
Task:
The ‘essence and purpose’ of a fiduciary relationship ‘is to serve exclusively the interests of another person or group of persons’ (J. D. Heydon, M.J. Leeming & P.G. Turner, Meagher, Gummow and Lehane’s Equity: Doctrines and Remedies, (LexisNexis Butterworths, 5th ed, 2015) [5-005], 143).
However, what distinguishes fiduciary duties from the common law duty of care and contractual obligations?
Further, given that the principles relating to fiduciary obligations have been incorporated into statues, such as the Uniform Corporations Act 2001, is the concept of a fiduciary relationship still relevant to twenty-first-century commercial law?