Fiduciary Doctrine: A Concept in Need of Understanding

The author suggests that one of the primary problems plaguing the application of fiduciary doctrine in contemporary jurisprudence is the failure to appreciate its contextual nature and underlying purpose. The contextual analysis and rigid application of standard formulae by the judiciary is harmful to the understanding of fiduciary doctrine, which requires that due attention be paid to the unique requirements of particular relationships. The history of fiduciary jurisprudence reveals that more confusion than knowledge currently exists in this area of the law. What is needed is a return to the fundamental elements of fiduciary doctrine so that its more precise application in accordance with its underlying purpose and situation-specific nature becomes possible.