What is a breach of a fiduciary duty?

When one party has an obligation to act in the best interest of another party, such as a corporate board member's duty to the company's shareholders, it is referred to as a fiduciary duty. If the party acts contrary to that duty, it is called a breach of fiduciary duty and can give rise to legal action in civil court.

US Legal Forms
Localized Forms
Washington
King
Complaint for Breach of Fiduciary Duty - Trust

King Washington Complaint for Breach of Fiduciary Duty - Trust

Name: King Washington Complaint for Breach of Fiduciary Duty - Trust
Brand: US Legal Forms
Rating: 4.67 (473 reviews)

Category:

Civil Actions - Complaints - Breach of Fiduciary Duty

State:

Multi-State

County:

King

Control #:

US-00760

Format:

Instant download

Description

This is a multi-state form covering the subject matter of: Complaints.

Letter Informing Debt Collector of Unfair ...

View this form

How to fill out King Washington Complaint For Breach Of Fiduciary Duty - Trust?

Whether you plan to start your business, enter into an agreement, apply for your ID update, or resolve family-related legal concerns, you must prepare certain paperwork corresponding to your local laws and regulations. Locating the correct papers may take a lot of time and effort unless you use the US Legal Forms library.

The platform provides users with more than 85,000 professionally drafted and checked legal templates for any personal or business occurrence. All files are collected by state and area of use, so picking a copy like King Complaint for Breach of Fiduciary Duty - Trust is quick and simple.

The US Legal Forms website users only need to log in to their account and click the Download key next to the required template. If you are new to the service, it will take you a few more steps to get the King Complaint for Breach of Fiduciary Duty - Trust. Adhere to the guide below:

Make sure the sample meets your individual needs and state law requirements.
Read the form description and check the Preview if there’s one on the page.
Use the search tab providing your state above to locate another template.
Click Buy Now to get the sample once you find the proper one.
Choose the subscription plan that suits you most to proceed.
Log in to your account and pay the service with a credit card or PayPal.
Download the King Complaint for Breach of Fiduciary Duty - Trust in the file format you require.
Print the copy or complete it and sign it electronically via an online editor to save time.

Documents provided by our website are multi-usable. Having an active subscription, you can access all of your earlier acquired paperwork whenever you need in the My Forms tab of your profile. Stop wasting time on a endless search for up-to-date official documentation. Join the US Legal Forms platform and keep your paperwork in order with the most comprehensive online form library!

Form Rating

4.67

Satisfied(473)

Form popularity

FAQ

A broker hired as a purchasing agent, for instance, may not sell to his principal through a company in which he or his family has a financial interest. The penalty for breach of fiduciary duty is loss of compensation and profit and possible damages for breach of trust.

A breach of fiduciary duty occurs when a principal fails to act responsibly in the best interests of a client. The consequences of a breach of fiduciary duty are multiple. They can range from reputation damage to loss of a license and monetary penalties.

Three Key Fiduciary Duties Duty of Care. Duty of care describes the level of competence and business judgment expected of a board member.Duty of Loyalty. Duty of loyalty revolves primarily around board members' financial self-interest and the potential conflict this can create.Duty of Obedience.

Three Potential Consequences of Breach of Fiduciary Duty Compensatory Damages. If an alleged breach of fiduciary duties leads to litigation then one of the most common outcomes is for the victim to receive compensatory damages.Punitive Damages.Professional Consequences.

Directors and officers must satisfy their fiduciary duties or risk significant personal liability. To avoid breaching their fiduciary duties, directors and officers need to understand what is required under the duty of care and the duty of loyalty.

Can Breach of Fiduciary Duty Be Criminal Offense? In California, breach of fiduciary duty penalties includes civil remedies, civil penalties, and criminal penalties. The same conduct can be a civil wrong and a criminal offense.

When one party has an obligation to act in the best interest of another party, such as a corporate board member's duty to the company's shareholders, it is referred to as a fiduciary duty. If the party acts contrary to that duty, it is called a breach of fiduciary duty and can give rise to legal action in civil court.

If a fiduciary fails to comply with these responsibilities, they may have breached their fiduciary duty. In the case of an executor or trustee, a breach of fiduciary duty may result in their suspension, removal and/or a surcharge a court order requiring them to pay money damages for the harm caused by the breach.

Breach of Fiduciary Duty Examples Sharing an employer's trade secrets; Failing to follow the employer's directions; Improperly using or failing to account for employer funds; Acting on behalf of a competitor; Failing to exercise care in carrying out duties; and. Profiting at the employer's expense.

Interesting Questions

More info

When does a person owe another a fiduciary duty? Actions involving claims for monetary damages, including claims for breach of fiduciary duty, fraud, and negligence.TRUSTEE HOLDING CORPORATE STOCK - DUTY TO DIVERSIFY. If the client was sloppy and omitted to provide complete income statements, no breach occurred. Damages. Estate and trust disputes can arise in a variety of circumstances. Count IBreach of contract,. Count II—Accounting,. Get free access to the complete judgment in COTTON v. To file a complaint with the Bureau, click on one of the options below.

King Washington Complaint for Breach of Fiduciary Duty - Trust

Description

Related forms

Viewed forms

How to fill out King Washington Complaint For Breach Of Fiduciary Duty - Trust?

Show more info

Form Rating

Form popularity

FAQ

What is the penalty for breach of the fiduciary duty of an agent?

What happens when fiduciary duty is breached?

What are the 3 fiduciary duties?

What damages are available for breach of fiduciary duty?

Are directors personally liable for breach of fiduciary duty?

Is breach of fiduciary duty a criminal offense?

What are the consequences of breach of fiduciary duty?

What is a breach of a fiduciary duty?

What consequences if any do directors face for a breach of fiduciary duty?

What are three examples of breaches of fiduciary duty?

Interesting Questions

What is a breach of fiduciary duty?

What are some examples of breach of fiduciary duty by a King?

What actions can be taken if a King is suspected of breaching fiduciary duty?

How can one prove a breach of fiduciary duty by a King?

What remedies can be sought if a King is found guilty of breaching fiduciary duty?

Is a breach of fiduciary duty a serious offense?

More info

Trusted and secure by over 3 million people of the world’s leading companies