Is a fiduciary relationship never closed?
Saskatchewan, Canada
The following excerpt is from Lac La Ronge Indian Band v. Canada, 1999 SKQB 218 (CanLII):
Two final things are noted. The categories of fiduciary relationships are never closed and the obligation arises in those relationships which usually 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. See Frame v. Smith, 1987 CanLII 74 (SCC), [1987] 2 S.C.R. 99 (S.C.C.) at p. 134 and p. 136.
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