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19 votes

Do Trump's lawyers have a fiduciary duty to delay the proceedings?

No. Lawyers are also officers of the court and are specifically prohibited from taking actions in litigation with the sole purpose of delay. (The analysis would be different if Trump were facing the ...
ohwilleke's user avatar
  • 221k
12 votes
Accepted

Can you have a fiduciary duty to your own business?

@Rick aptly answers your first question (and I totally agree with his answer including his conclusion that the cited provisions apply to single member LLCs). So, I'll touch on issues associated with ...
ohwilleke's user avatar
  • 221k
8 votes

Do lawyers have to hold disputed funds in trust account pending litigation?

The more common arrangement is for the amount of the judgment with some additional amount to be paid into the registry of the court as a supersedeas bond which stays enforcement of Alice's money ...
ohwilleke's user avatar
  • 221k
8 votes
Accepted

The court does, but does your attorney have any duty to assume you are truthful for the sake of a problem spotting?

When a complaint is first file, per case law, courts have a duty to believe each allegation you make on information and belief as long as they are each not contradicting any other statement or other ...
ohwilleke's user avatar
  • 221k
6 votes
Accepted

Therapist violates confidentiality. Any laws applicable?

We're missing a lot of information that we'd need to offer a full answer. Here are some of the things that will probably drive the analysis: the type of counselor we're talking about; the types of ...
bdb484's user avatar
  • 60.7k
5 votes
Accepted

Do directors at defense contractors have a fiduciary duty to promote instability and conflict?

Do directors at defense contractors have a fiduciary duty to promote instability and conflict? No. A board of directors member has a duty of loyalty and a duty of care. Neither have such broad ...
ohwilleke's user avatar
  • 221k
3 votes

Do lawyers have to hold disputed funds in trust account pending litigation?

new-zealand It appears that my understanding (as given in the question) is probably correct. Section 110 of the Lawyers and Conveyancers Act 2006 says: A practitioner who, in the course of his or her ...
Greendrake's user avatar
  • 27.2k
3 votes

Therapist violates confidentiality. Any laws applicable?

If any of the information disclosed was Protected Health Information (PHI) under the federal HIPAA law, the disclosures might violate that law. Providers, which would usually include therapists are ...
David Siegel's user avatar
3 votes

Do Directors serving at the pleasure of a specific class of investor owe fiduciary duties to other classes of investors?

Do the directors appointed by the preferred stockholders have a fiduciary responsibility to all of the shareholders or just the preferred shareholders? That is, can they act in the best interests ...
ohwilleke's user avatar
  • 221k
2 votes

Can a plaintiff in a fiduciary breach of trust sue a particular director instead of the company?

Derivative Claims Normally, in the fact pattern presented, Peter would need to bring a derivative action against him for the benefit of the company as a whole, following the special procedures for ...
ohwilleke's user avatar
  • 221k
2 votes
Accepted

How did facebook got away from fiduciary lawsuit when they diluted Saverin's shares?

Because he wanted to Why he wanted to only he and whoever he's told knows. An out of court settlement is simply a deal that comes at the end of a negotiation - possibly a long and arduous ...
Dale M's user avatar
  • 213k
2 votes
Accepted

Does a NY divorce court have jurisdiction to rule on an action that involves the use of Supplemental Security Income funds?

It turns out that this seemingly pretty simple question is actually quite involved and has multiple subcomponents at a level of complexity similar to a difficult bar exam question. I am providing my ...
ohwilleke's user avatar
  • 221k
2 votes

Can the board of a NH non-profit deny a stockholder a hearing before terminating their membership?

No, you can’t First, if the rules or procedures of your organisation deal with disciplinary actions, then they must be strictly followed. Failure to do so is a denial of procedural fairness and will ...
Dale M's user avatar
  • 213k
2 votes
Accepted

Can fiduciary standards of care, prudence and loyalty be imposed on the POTUS?

Can fiduciary standards of care, prudence and loyalty be imposed on the POTUS? Not under existing law, with the possible exception of emoluments (which basically means "kickbacks"), ...
ohwilleke's user avatar
  • 221k
2 votes
Accepted

Can a social security card be used/required as identification?

You have an unquestionable common law property right to what is in these accounts. An institution can make reasonable demands that you prove that you are the person entitled to that account. No aspect ...
user6726's user avatar
  • 215k
2 votes

Can a social security card be used/required as identification?

Many financial institutions have to withhold taxes on the customer's behalf or at least notify the federal government of transactions like interest payments. To do that they need the customer's SSN or ...
Charles E. Grant's user avatar
1 vote

To whom does the owner of 100% of the shares of a company owe a fiduciary duty to?

Shareholders owe no duty, officers do australia The officers of a company are the directors, the company secretary, and anyone who controls the corporation, whether officially appointed to do so or ...
Dale M's user avatar
  • 213k
1 vote

To whom does the owner of 100% of the shares of a company owe a fiduciary duty to?

Mere owners owe no duties. But mere owners do not control a corporation; directors do. Directors owe a fiduciary duty to the corporation. Failure to act consistent with that fiduciary duty can have ...
Jen's user avatar
  • 59.8k
1 vote

Is company under receivership in Washington State obligated to pay for use of occupied property before deciding to assume or reject lease?

Generally speaking, in a receivership, the receiver steps into the shoes of the person who would otherwise have management authority of the receivership estate. The obligations and rights of a ...
ohwilleke's user avatar
  • 221k
1 vote

Do Trump's lawyers have a fiduciary duty to delay the proceedings?

This is a really, really tough one, but I'm gonna go with a very heavy qualified "yes, sometimes". Obviously the other answer's citation to Rule 11 is valid (and I believe most if not all ...
Peter's user avatar
  • 234
1 vote

Fictional fiduciary makes loan against stock

Is this person a fiduciary? You describe Simpson as a financial advisor, however, I believe that is a mischaracterisation. His role appears rather to be that of a business advisor: a financial advisor ...
Dale M's user avatar
  • 213k
1 vote

Can a social security card be used/required as identification?

No. My social security card said on its face: Not to be used for identification. I note, however, that I haven't seen my card for decades. I think more recent cards lack that note.
Burt_Harris's user avatar
  • 1,769
1 vote

The court does, but does your attorney have any duty to assume you are truthful for the sake of a problem spotting?

To ohwilleke's excellent answer I would add a brief discussion of the word "assume." Colloquially, we often use this word to describe a conclusion that we have drawn from a set of facts. ...
phoog's user avatar
  • 37.9k
1 vote
Accepted

Does a fiduciary have the same or different standard of care toward a "remainderman" as an income beneficiary?

A fiduciary owes the same duty of care towards all beneficiaries. This doesn't mean that they all should have equal consideration in substantive distribution or that a fiduciary has to never make ...
ohwilleke's user avatar
  • 221k
1 vote

Laws About Contributions from Business You Own to 501c(3) You Founded/Work At

The basic rule is that no person or entity, other than (1) another non-profit within the scope of the charitable purpose of a non-profit or (2) someone whose benefit is within the scope of the ...
ohwilleke's user avatar
  • 221k
1 vote

Do Directors serving at the pleasure of a specific class of investor owe fiduciary duties to other classes of investors?

Under Australian Corporations Act s181 a director owes a duty to the corporation - not to the shareholders or any subset of them. This duty is not a fiduciary one in general - they must exercise care ...
Dale M's user avatar
  • 213k
1 vote

How can I protect myself as a minority shareholder when I don't have the money to pay legal fees?

It is important to only enter into this partnership with someone you trust but you and the investor will have different incentive structures and may very well have different views of the company as ...
George White's user avatar
  • 12.8k

Only top scored, non community-wiki answers of a minimum length are eligible