Sentences with phrase «such fiduciary relationships»

Special obligations are imposed when such fiduciary relationships are created.

Not exact matches

CONSTRUCTIVE RECEIPT: Although a taxpayer does not have actual possession of the proceeds, they are legally entitled to the proceeds in some manner such as having the money held by an entity considered their agent or by someone having a fiduciary relationship with them.

Fiduciary duties can arise out of formal relationships, such as a lawyer or partner, or even informal relationships, if the specific facts or circumstances require the imposition of fiduciarFiduciary duties can arise out of formal relationships, such as a lawyer or partner, or even informal relationships, if the specific facts or circumstances require the imposition of fiduciaryfiduciary duties.

The Manitoba Court of Appeal reviewed the fiduciary obligations of a committee to an incapable person and concluded that «the breach of such a special relationship gives rise to the widest array of equitable remedies» (at paragraph 21) and that the «court is concerned not only in compensating a wronged plaintiff, but also in upholding the obligations of good faith and loyalty» (at paragraph 22).

Some of the additional terms offered are various synonyms or related concepts such as officer, board, agent (for the director concept) or obligation, fiduciary relationship or trustee (for the fiduciary concept).

If, however, the demands on the person's time and the possibility of conflicts of interest are not substantial, such a person may continue to act, without compensation, as an executor, administrator, trustee, or other fiduciary for the estate or person of one who is not a member of the person's family if terminating the relationship would unnecessarily jeopardize any substantial interest of the estate or person and if the judicial council of the circuit approves.

ALSs are charity; and as such do not provide a traditional solicitor - client relationship, involving a fiduciary duty that requires the lawyer to act in the best interests of the client.

In such relationships, dual agents owe limited fiduciary duties to both buyer and seller clients.

The California case, Field v. Century 21 Klowden - Forness Realty, found that a broker in a fiduciary relationship with the buyer may be required to examine such things as public records and title documents for the buyer, as opposed to a seller's broker, who has no such duty.

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79 DOS 99 Matter of DOS v. Pagano - disclosure of agency relationships; failure to appear at hearing; proper business practices; unauthorized practice of law; unearned commissions; vicarious liability; fraudulent practice; jurisdiction; ex parte hearing may proceed upon proof of proper service; DOS has jurisdiction after expiration of respondents» licenses as acts of misconduct occurred and the proceedings were commenced while the respondents were licensed; licensee fails to timely provide seller client with agency disclosure form prior to entering into listing agreement and fails to timely provide agency disclosure form to buyer upon first substantive contact; broker fails to make it clear for which party he is acting; broker violates 19 NYCRR 175.24 by using exclusive right to sell listing agreement without mandatory definitions of «exclusive right to sell» and «exclusive agency»; broker breaches fiduciary duties to seller clients by misleading them as to buyer's ability to financially consummate the transaction; broker breaches his fiduciary duty to seller by referring seller to the attorney who represented the buyers when he knew or should have known such attorney could not properly protect seller's interests; improper for broker to use listing agreements providing for broker to retain one half of any deposit if forfeited by buyer as such forfeiture clause could, by its terms, allow broker to retain part of the deposit when broker did not earn a commission; broker must conduct business under name as it appears on license; broker engaged in the unauthorized practice of law in preparing contracts for purchase and sale of real estate which did not contain a clause making it subject to the approval of the parties» attorneys and were not a form recommended by a joint bar / real estate board committee; broker demonstrated untrustworthiness and incompetency in using sales contract which purported to change the terms of the listing agreement to include a higher commission; broker demonstrated untrustworthiness and incompetency in using contracts of sale which were unclear, ambiguous, vague and incomplete; broker failed to amend purchase agreement to reflect amendment to increase deposit amount; broker demonstrated untrustworthiness in back - dating purchase agreements; broker demonstrated untrustworthiness in participating in scheme to have seller hold undisclosed second mortgage and to mislead first mortgagee about the purchaser's financial ability to purchase; broker demonstrated untrustworthiness by claiming unearned commission and filing affidavit of entitlement for unearned commission; DOS fails to establish by substantial evidence that respondent acted as undisclosed dual agent; corporate broker bound by the knowledge acquired by and is responsible for acts committed by its licensees within the actual or apparent scope of their authority; corporate and individual brokers» licenses revoked, no action taken on application for renewal until proof of payment of sum of $ 2,000.00 plus interests for deposits unlawfully retained