Fiduciary Law and Equity: Enforcing Loyalty

18 Pages Posted: 26 Mar 2018

Date Written: March 25, 2018

Abstract

In this essay, I suggest that the combination of formal and remedial techniques that equity courts traditionally have applied to the problem of trustee loyalty is strongly oriented to deterrence. One consequence is that when loyalty and prudence conflict, primacy for loyalty is built into the structure of fiduciary law. It is open to courts to reduce the role of loyalty in trust law by softening the standards currently applied to trustees. A change of this type, however, would not be a minor adjustment in the law governing trustees, but would instead represent fundamental structural change.

Keywords: Equity, Trustees, Loyalty

Suggested Citation

Sherwin, Emily L., Fiduciary Law and Equity: Enforcing Loyalty (March 25, 2018). Cornell Legal Studies Research Paper No. 18-21, Available at SSRN: https://ssrn.com/abstract=3149092 or http://dx.doi.org/10.2139/ssrn.3149092

Emily L. Sherwin (Contact Author)

Cornell University - Law School ( email )

Myron Taylor Hall
Cornell University
Ithaca, NY 14853-4901
United States

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