| Preface |
|
v | |
| Table of Cases |
|
xiii | |
| Table of Legislation |
|
xliii | |
| 1 Prologue |
|
1 | |
| 2 Points of Departure |
|
7 | |
|
|
|
7 | |
|
II. Subject Matter of Analysis |
|
|
11 | |
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|
11 | |
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|
16 | |
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|
16 | |
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|
18 | |
| 3 Peculiarly Fiduciary Duties |
|
32 | |
|
I. Duty to Perform the Task Undertaken |
|
|
32 | |
|
II. Duties of Care and Skill |
|
|
35 | |
|
III. Conflict and Profit Principles |
|
|
39 | |
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|
|
40 | |
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V. Proper Purposes Doctrine |
|
|
44 | |
|
|
|
50 | |
|
VII. Duty to Act in Good Faith in the Principal's Best Interests |
|
|
54 | |
| 4 Fiduciary Loyalty |
|
59 | |
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|
59 | |
|
II. Subsidiary Prophylactic Protection |
|
|
61 | |
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|
62 | |
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|
67 | |
|
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|
75 | |
|
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|
76 | |
|
A. Rescission and Profit-Stripping |
|
|
76 | |
|
|
|
76 | |
|
ii. Accounts of Profits and Constructive Trusts |
|
|
79 | |
|
iii. Connection with Fiduciary Protection |
|
|
80 | |
|
|
|
85 | |
|
|
|
85 | |
|
|
|
90 | |
|
iii. Connection with Fiduciary Protection |
|
|
94 | |
|
|
|
97 | |
| 5 Fiduciary Doctrine and Morality |
|
106 | |
|
|
|
107 | |
|
II. The Argument from History |
|
|
109 | |
|
III. The Profit Principle |
|
|
113 | |
|
A. Existence of the Profit Principle |
|
|
114 | |
|
B. Relationship to the Conflict Principle |
|
|
120 | |
|
IV. The Fair-Dealing Rule |
|
|
125 | |
|
|
|
126 | |
|
|
|
128 | |
|
i. References to 'Fairness' |
|
|
129 | |
|
ii. Non-Critical Relevance of 'Fairness' |
|
|
130 | |
|
iii. Fairness as Evidence of Full Disclosure |
|
|
135 | |
|
iv. Relationship to the Self-Dealing Rule and Conflict Principle |
|
|
138 | |
|
V. The Corporate Opportunity Doctrine |
|
|
139 | |
| 6 Conflicts between Inconsistent Duties |
|
142 | |
|
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|
143 | |
|
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|
146 | |
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|
147 | |
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|
149 | |
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|
150 | |
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|
152 | |
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|
153 | |
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|
158 | |
|
A. Stopping Further Action |
|
|
158 | |
|
B. Rescission of Resultant Transaction |
|
|
159 | |
|
C. Forfeiture of Fees and Other Profits |
|
|
161 | |
|
i. Fees Paid by the Non-claimant Principal |
|
|
161 | |
|
ii. Fees Paid by the Claimant Principal |
|
|
162 | |
|
D. Equitable Compensation |
|
|
164 | |
|
i. Availability and Function |
|
|
164 | |
|
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|
165 | |
|
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|
172 | |
| 7 Implications |
|
177 | |
|
I. Scope of Fiduciary Duties |
|
|
177 | |
|
II. The Vital Nature of Non-fiduciary Duties |
|
|
185 | |
|
A. Consequence of the Protective Function |
|
|
185 | |
|
B. Potential Counter-examples |
|
|
188 | |
|
i. Preventing Circumvention of Fiduciary Protection |
|
|
188 | |
|
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|
190 | |
|
iii. Negotiations towards Joint Ventures |
|
|
195 | |
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|
197 | |
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|
201 | |
|
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|
204 | |
|
V. Critiques of Fiduciary Doctrine |
|
|
208 | |
| 8 Conceptual Affinities |
|
214 | |
|
I. Contract and Fiduciary Doctrine |
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|
214 | |
|
II. Torts and Fiduciary Doctrine |
|
|
221 | |
|
A. Fiduciary Doctrine and Negligence |
|
|
222 | |
|
B. Surrogacy for Tort Law Generally |
|
|
228 | |
|
i. Cause of Action Surrogacy |
|
|
228 | |
|
|
|
229 | |
|
III. Undue Influence and Confidence |
|
|
236 | |
|
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|
236 | |
|
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|
241 | |
| 9 The Incidence of Fiduciary Duties |
|
245 | |
|
|
|
246 | |
|
A. Acting on Behalf of Another |
|
|
246 | |
|
|
|
247 | |
|
C. Reasonable Expectations |
|
|
249 | |
|
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|
251 | |
|
II. Turning Theory into Practice |
|
|
254 | |
|
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|
254 | |
|
B. Relevant Considerations |
|
|
260 | |
| 10 Epilogue |
|
269 | |
| Index |
|
277 | |