fiduciary duty

Fiduciary Duty

A fiduciary duty is the obligation of one party to act in the best interest of another party. These types of relations arise all over. They can include corporate relationships and patient-doctor relationships. In 2004, the Supreme Court of Canada released an important decision in regards to the meaning behind section 122(1)(b) of the Canada Business Corporations Act (CBCA) in regard to fiduciary duties.