Tag Archives: fiduciary
What is the “Business Judgment Rule”?
THE BUSINESS JUDGMENT RULE WAS DESIGNED TO PROTECT CORPORATE OFFICERS The “Business Judgment Rule” is a legal principle that protects the officers and directors of corporate entities (for example, a corporation or LLC) from liability for certain kinds of actions (when acting in their official roles, on behalf of the entity). In simplified terms,… Read More »
Who Can be Sued for Breach of Fiduciary Duty?
Someone who owes, and breaches, a fiduciary duty in a manner that causes injury to the beneficiary.* *As long as the legal elements of the claim are met. BREACH OF FIDUCIARY DUTY IS A TORT IN CALIFORNIA Under California law, breach of a fiduciary duty is a tort (a civil wrong). When the required… Read More »
Is an Attorney-Client Relationship a Fiduciary Relationship?
WHAT IS AN ATTORNEY-CLIENT RELATIONSHIP? An attorney-client relationship is the term for the official legal relationship between a lawyer and a client. It is a relationship of trust, and has special, legally-recognized characteristics. For example, attorney-client privilege arises only where an attorney-client relationship exists. The attorney-client relationship also creates legal rights and obligations for the lawyer –… Read More »
