What is the test for a fiduciary relationship where the beneficiary is a beneficiary of the fiduciaries' trust?
Alberta, Canada
The following excerpt is from Holman v. Atlas Fire & Safety Equipment Ltd., 2005 ABQB 70 (CanLII):
In Frame v. Smith et al (1987), 1990 CanLII 12535 (FCA), 42 D.L.R. (4th) 81 (S.C.C.) Wilson J. stated at p. 59: Relationships in which a fiduciary obligation have been imposed seem to possess three general characteristics: (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.
"The most advanced legal research software ever built."
The above passage should not be considered legal advice. Reliable answers to complex legal questions require comprehensive research memos. To learn more visit www.alexi.com.
Other Questions
In what circumstances will a fiduciary relationship between a beneficiary and the beneficiary be considered to be unenforceable? (Alberta, Canada)
Can a fiduciary relationship arise as a matter of fact out of the specific circumstances of a particular relationship? (Alberta, Canada)
Does a finding of a constructive trust as a remedy retroactively impose a trustee - beneficiary relationship between parties? (Alberta, Canada)
Can a breach of trust be validated by the actions of the cestui que trust? (Alberta, Canada)
Can a fiduciary or passive trustee of an estate be sued for loss of funds by a broker who had no knowledge of the breach of fiduciaries duties? (Alberta, Canada)
Can a breach of trust or fiduciary duty result in the award of solicitor and client costs? (Alberta, Canada)
What are the principles used to determine whether a fiduciary relationship exists? (Alberta, Canada)
Is a client’s instructions not to obey trust conditions an excuse for breach of trust conditions? (Alberta, Canada)
What are the duties of a doctor in the fiduciary relationship with a patient? (Alberta, Canada)
What is the effect of a solicitor/client relationship and confidential information which has been obtained in that relationship? (Alberta, Canada)
