Is a fiduciary obligation binding on a beneficiary?
Ontario, Canada
The following excerpt is from Brown v. First Contact Software Consultants Incorporated, 2009 CanLII 48504 (ON SC):
A fiduciary duty exists when (a) the person in question has the power to exercise some discretion that could (b) be unilaterally exercised in a way that affects the beneficiary’s interests, especially when (c) the beneficiary is particularly vulnerable to the fiduciary: see Frame v. Smith 1987 CanLII 74 (SCC), [1987] 2 S.C.R. 99 at 136.
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