Question: Consider the special significance of fiduciary conflicts rules to law firms, taking account of recent cases in this area.
Answer: Firms of solicitors hold a close fiduciary relationship with their clients and are thus expected to abide to certain principles. This piece will focus on two kinds of fiduciary conflicts that can be identified and that a practitioner should be wary of – firstly; existing client conflicts and, secondly, former clients conflicts. This distinction is fundamental to our analysis. In the first scenario, existing client conflicts, the issue is purely concerned with a conflict when – as Lord Millet neatly defined in Bristol and West Building Society v. Mothew – “a fiduciary…acts for two principals with potentially conflicting interests without the informed consent of both.” Without their consent, the fiduciary can not continue, and should he decide to continue – he would be act......(short extract)
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Details: - Mark: 68% | Course: Equity and Trust Law | Year: 2nd/3rd | Words: 4998 | References: Yes | Date written: November, 2007 | Date submitted: April 20, 2009 | Coursework ID: 493
