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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 New Mexico, a breach of fiduciary duty occurs when an individual or entity, who is obligated to act in the best interest of another party due to a special trust relationship, fails to do so. This can involve situations where an attorney does not act in the best interest of their client or a trustee does not properly manage the assets for the beneficiaries. The fiduciary duties include a duty of loyalty, which requires the fiduciary to act without personal conflict of interest, and a duty of care, which requires the fiduciary to make informed and prudent decisions. When these duties are breached, the affected party may file a civil lawsuit to recover damages. New Mexico courts will evaluate whether the fiduciary relationship existed, whether the fiduciary breached their duties, and whether the breach caused damages to the plaintiff. The specific statutes and case law governing fiduciary duties in New Mexico will provide the framework for any legal proceedings related to such a breach.

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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

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New-Mexico State Code

New-Mexico State Code

Civil litigation

breach of fiduciary duty

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