A lawyer's fiduciary duties arise from -
service as a trustee, executor or corporate director.
Joint adventurers, like copartners, owe to one another, while the enterprise continues, the duty of the finest loyalty. Many forms of conduct permissible in a workaday world for those acting at arm's length, are forbidden to those bound by fiduciary ties. A trustee is held to something stricter than the morals of the market place. Not honesty alone, but the punctilio of an honor the most sensitive, is then the standard of behavior.
(As stated in the famous 1928 case of: Meinhard v. Salmon, 249 N.Y. 458) Case..
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