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"fiduciary duty" defined

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  • Legalbear
    32] Generally, a fiduciary is defined as one who, by an agreement to undertake certain obligations for the benefit of another, retains a duty to act primarily
    Message 1 of 1 , May 2, 2005
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      32] Generally, a fiduciary is defined as one who, by an agreement to undertake certain obligations

      for the benefit of another, retains a duty to act primarily for the benefit of the other in all respects

      connected with the undertaking because of the trust and confidence reposed. Destefano v.

      Grabrian, 763 P.2d 275 ( Colo. 1988). However, the existence of a confidential relationship, without

      more, is insufficient to establish a fiduciary relationship. See First National Bank v. Theos, 794 P.2d

      1055 ( Colo. App. 1990); 1 A. Scott , Trusts ยง 2.5 (3rd ed. 1967). And, in this jurisdiction, we do

      not recognize a separate tort founded upon breach of a confidential relationship. Todd Holding Co.

      v. Super Valu Stores, Inc., P.2d (Colo. App. No. 91CA1779, July 1, 1993); see also Jarnigan v.

      Busby, Inc., P.2d (Colo. App. No. 91CA2050, July 15, 1993).

       

       

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