The test for a fiduciary relationship outside of the traditional categories is laid down in Hodgkinson v. Simms. The question to ask is whether one party could reasonably have expected that the other party would act in the former’s best interests with respect to the subject-matter at issue. The reasonable expectations of the parties depend on factors such as discretion, vulnerability, trust, confidence, complexity of subject-matter, and community or industry standards. There must be a mutual understanding that one party has relinquished its own self-interest and agreed to act solely on behalf of the other party. Hodgkinson v. Simms, supra, at 409-412.
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