Notion of fiduciary trust and its breach - Case Study Example

Only on StudentShare

Extract of sample
Notion of fiduciary trust and its breach

The bill of lading indicated that 3,000 tons of timber was received from Merchant LTD and the timber was received in good condition. In examining Wavy Line's responsibilities with regards to Merchant LTD it is prudent for Merchant LTD to know that the issuance of a bill of lading is accompanied by legal rights and responsibilities. Those rights and responsibilities as delineated by the Hague-Visby rules denote that under the "contract of carriage" the responsibilities and liabilities of Wavy Line include the premise that Wavy Line is obligated to exercise a superior degree of care in order to:
In examining Article II of the Hague-Visby Rules, we can clearly see that there is a breach of the contract by Wavy Line in that Wavy Line was obligated to ensure that the ship is adequately staffed prior to embarking on the voyage. The fact that Wavy Line had to stop to pick up a relief master on the way indicates that the staffing responsibility was not met as necessitated by the Hague-Visby Rules. Article III Section 5 of the Hague-Visby Rules addresses remuneration under these circumstances. ...Show more


The notion of fiduciary trust and its breach is at the heart of the contractual agreement between a consignee and a consigner as well all of the entities representing either of the parties. When dealing with a consignment agreement which involves the transport of goods by sea, the Hague-Visby rules as amended by the Brussels protocol 1968 as well as the Carriage of Goods by Sea Act 1992 delineate the obligations and rights of each party as well as the recourse each entity may have as a direct result of the breach of responsibility by opposing parties.
Author : farrellzachery
Save Your Time for More Important Things
Let us write or edit the case study on your topic
"Notion of fiduciary trust and its breach"
with a personal 20% discount.
Grab the best paper

Related Essays

Fiduciary duties and acquisition
Is the company being sold simply because the board needs to perform its fiduciary duties? What is the extent of application of the fiduciary duties in this case? These are the two main questions that should be answered in analyzing the reason behind the sale of the company.
5 pages (1250 words) Case Study
Fiduciary Duties for Directors
Fiduciary Duties for Directors. Under the Delaware Law, business and corporation’s affairs have to be managed through the direction of a board of governors. Section 141(a) of the Delaware General Corporation Law states that “directors, rather than shareholders, manage the business and affairs of a corporation” (Egan, 2007, p.
4 pages (1000 words) Essay
Quistclose trust and the requirements for its creation
6 Conclusion 8 References: 9 “My Lords, there are two issues in this appeal. The first is concerned with the nature of the so-called “Quistclose trust” and the requirements for its creation. The second arises only if the first is answered adversely to the appellant.
7 pages (1750 words) Essay
Read Case study of A and others v The National Blood Authority and others [2001] 3 All ER 289. Have cases since this decision de
The case stemmed from major concerns when approximately 14,000 people contracted a disease called Hepatitis C due to irregularities in blood and blood products transfusion. From the case proceedings and the evidence presented in regard to the case, it was succinctly clear that several factors were to be considered particularly in relation to human knowledge on hepatitis C and more importantly the level of commitment by the National Blood Authority in ensuring safety during blood transfusion (Williamson web).
4 pages (1000 words) Essay
Confidence and Fiduciary Obligation
One needs to conceptually understand the meaning of obligation of confidentiality, fiduciary obligation as well as the legal ramifications of those obligations. First and foremost, obligation of confidentiality addresses the manner in which confidential information will be handled by a recipient.
5 pages (1250 words) Essay
Tracing Rules
The only connection which the plaintiff has to the new asset is that it was acquired with the old asset. The defendant acquired the value inherent in the new asset with the value inherent in the old asset. The plaintiff must have something of value. Generally, he must have an asset; that is, a legal or equitable right, which is not held by everyone.
8 pages (2000 words) Essay
Equity and Trust: If a fiduciary, like the solicitor in Boardman v Phipps (1966), acting honestly and in good faith becomes a constructive trustee of that profit, then it seems that a fiduciary acting dishonestly and criminally who accepts a bribe, or
44). Discuss, in light of the recent case of Sinclair Investments Ltd versus Versailles Trade Finance Ltd. Both these cases rely on the legal conflict that may occur when an individual in a
7 pages (1750 words) Essay
Week 3 Assignment
lms, books, computer software, clothing, on-line services, food, biotechnology products, plants, and others are sold because of the creativity, information, and identity they contain. This paper seeks identify the upcoming issues concerning intellectual property. There are many
2 pages (500 words) Essay
Impact of Educational and Drug Prevention Programs

This article looks at the impact that Educational and Drug Prevention Programs have had on the intended recipients and how they have been of aid to the affected communities. It explains the meaning and importance of Community Policing and the factors surrounding it and the role of specific deterrence in the rehabilitation process of an individual.

5 pages (1250 words) Research Paper
Find out how much would it cost
to get a custom paper written by a pro under your requirements!
Win a special DISCOUNT!
Put in your e-mail and click the button with your lucky finger
Your email