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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 South Carolina, 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 relationship of trust and confidence, fails to do so. This breach can involve a conflict of interest or a failure to make informed decisions in the best interest of the party to whom the duty is owed. Common relationships involving fiduciary duties include those between attorneys and clients, trustees and beneficiaries, and corporate directors and shareholders. When a fiduciary duty is breached, the injured party may file a civil lawsuit to recover damages. South Carolina courts will evaluate whether the fiduciary relationship existed, the scope of the duty, and whether the duty was breached, resulting in damages. The specific remedies and statutes of limitations for such actions can vary, and it is advisable to consult with an attorney for guidance on the particular circumstances of a case.

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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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South-Carolina State Code

South-Carolina State Code

Civil litigation

breach of fiduciary duty

Articles