Kansas Jury Instruction - 3.3 Breach of Fiduciary Duty
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FAQ
The four elements are: The defendant was acting as a fiduciary of the plaintiff; The defendant breached a fiduciary duty to the plaintiff; The plaintiff suffered damages as a result of the breach; and. The defendant's breach of fiduciary duty caused the plaintiff's damages.
Available remedies for a breach of fiduciary duty can include: Lost profits. Out of pocket losses. Mental anguish damages.
Exposing the partnership to liability through negligence or malfeasance; Damaging the goodwill of the company through illegal or wrongful behavior; Concealing important information from partners; Failing to disclose conflicts of interest; or.
How Do You Prove a Breach of Fiduciary Duty? Withheld pertinent information. Misappropriated trust funds. Committed self-dealing. Abused their position. Failed to avoid a conflict of interest. Failed to keep beneficiaries informed.
It must be proved that the damages or losses resulting from the issue were directly caused by the breach of duty. When there are additional factors that the fiduciary could not have foreseen or controlled, a breach of duty claim may not be established.
Seeking Equitable Relief Where actions constituting a breach in fiduciary duties amounts to a fraudulent inducement, a court may order all or part of the contractual consideration paid by the principal to the fiduciary to be forfeited.
WHAT CONSTITUTES A BREACH OF FIDUCIARY DUTY? A breach can occur under three categories: care, loyalty and candor. In short, these three categories mean, respectively, that a fiduciary must act in a reasonable and prudent way, they must act in the best interests of their beneficiary (i.e. an employer, client, etc.)
Regardless of what type of breach of fiduciary duty you are trying to prove, you will have a similar burden of proof. The legal standard you must meet in these cases is the same as in any other civil case. You must prove your case by a preponderance of the evidence.