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Fiduciary

Trojan · 2014-06-06 15:36:12

"Fiduciary" is used in legal situations. It also means an ethical relationship of trust. Is it legally a restricted term? I.e. can one describe a relationship as fiduciary without having legal implications?

06-06-2014 3:36pm

#1

Trojan

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"Fiduciary" is used in legal situations. It also means an ethical relationship of trust. Is it legally a restricted term? I.e. can one describe a relationship as fiduciary without having legal implications?

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#2 07-06-2014 12:57am

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Outside of the established categories of fiduciary (eg solicitor) it's a matter of substance over form. The key thing is giving one party a discretion that can affect the interests of another in such a way that leads to circumstances of vulnerability. That said, if the parties use the term "fiduciary" to describe their relationship then the courts will take this into account.

"Fiduciary" is not a legally protected in the way that "solicitor" or "barrister" is.

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