Bristol and West Building Society v Mothew
1996 · [1998] Ch 1 (CA)
Posted By lanbuk.com
- Facts
- A solicitor acting for a lender and buyers carelessly failed to tell the lender about a second charge.
- Issue
- Was the careless breach a breach of ?
- Held
- No. Millett LJ held that the distinguishing obligation of a fiduciary is loyalty. A of care is not a breach of fiduciary duty unless it involves disloyalty.
- Principle
- Not every breach of duty by a fiduciary is a breach of fiduciary duty.
- Why it matters
- It helps separate sections 231 and 235 (loyalty) from section 232 (care).
Words and Latin in this note
- Fiduciary
- A person, such as a trustee, director or agent, who must act loyally for another. He must not profit from his position or put himself in a conflict of interest. Open the note.
For study only. By lanbuk.com. Always check current sources and consult a qualified professional.