Is there a fiduciary obligation of trust and loyalty?
Ontario, Canada
The following excerpt is from Bluefoot Ventures Inc. v. Ticketmaster (Citysearch), 2007 CanLII 55363 (ON SC):
It is the presence of trust and loyalty that sets a fiduciary obligation apart: …the presence of loyalty, trust and confidence distinguishes the fiduciary relationship from a relationship that simply gives rise to tortious liability. Thus, while a fiduciary obligation carries with it a duty of skill and competence, the special elements of trust, loyalty, and confidentiality that obtain in a fiduciary relationship give rise to a corresponding duty of loyalty. (Hodgkinson v. Simms, supra, at p. 405)
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