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Civil litigation

breach of fiduciary duty

Breach of fiduciary duty is a cause of action or claim in civil litigation (lawsuits) that provides the legal basis for a person or entity to recover its damages/losses when there is a special relationship based on trust and confidence (attorney and client or trustee and beneficiaries) and the party who owes the fiduciary duty breaches its duty of loyalty (conflict of interest) or duty of care (informed judgment in decision-making).

In Illinois, a breach of fiduciary duty is recognized as a valid cause of action in civil litigation. This type of claim arises when there is a special relationship of trust and confidence, such as that between an attorney and client or a trustee and beneficiaries. The fiduciary duty encompasses both a duty of loyalty, which requires the fiduciary to act without conflicts of interest, and a duty of care, which obligates the fiduciary to make decisions with informed judgment. When a fiduciary fails to uphold these duties, the affected party may seek to recover damages for the losses incurred due to the breach. To establish a breach of fiduciary duty in Illinois, the plaintiff must typically prove the existence of a fiduciary relationship, the breach of the duty owed, and damages resulting from the breach. Illinois courts will assess the specifics of the fiduciary relationship and the actions of the fiduciary to determine if a breach has occurred.

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Fiduciaries and Their Duties: Upholding Trust in Transactions

Why does it matter if someone has a fiduciary duty, and how does it impact both everyday people and businesses? Today, we’ll take a look at this important legal concept to demystify the concept of fiduciaries and the responsibilities they bear.

Civil litigation

breach of fiduciary duty

Individual & Family Legal Plan

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Illinois State Code

Illinois State Code

Civil litigation

breach of fiduciary duty

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