And her Ladyship commented on fiduciary duties at para. 72: 72 It is the nature of the relationship, not the specific category of actor involved, which gives rise to fiduciary duties. Sopinka J. adopted at p. 599 the characteristics of a fiduciary relationship described by Wilson J. in Frame v. Smith, 1987 CanLII 74 (SCC), [1987] 2 S.C.R. 99 at para. 40, 42 D.L.R. (4th) 81 [Frame]: 1) The fiduciary has scope for the exercise of some discretion or power. 2) The fiduciary can unilaterally exercise that power or discretion so as to affect the beneficiary's legal or practical interests. 3) The beneficiary is peculiarly vulnerable to or at the mercy of the fiduciary holding the discretion or power.
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