What is the test for a fiduciary to be able to unilaterally exercise power or unilaterally exercise some power over a beneficiary?
Alberta, Canada
The following excerpt is from Indutech Canada Limited v. Gibbs Pipe Distributors Ltd., 2011 ABQB 38 (CanLII):
Frame v. Smith requires that the fiduciary have the ability to unilaterally exercise some power or discretion that can affect the beneficiary’s legal or practical interests, and requires that the beneficiary is peculiarly vulnerable to, or at the mercy of, the fiduciary.
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