In considering the issue of fiduciary obligations, Dickson J. stated in Guerin v. Canada, 1984 CanLII 25 (SCC), [1984] 2 S.C.R. 335 at 384: I do agree, however, that where by statute, agreement, or perhaps by unilateral undertaking, one party has an obligation to act for the benefit of another, and that obligation carries with it a discretionary power, the party thus empowered becomes a fiduciary. Equity will then supervise the relationship by holding him to the fiduciary’s strict standard of conduct.
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