Download or read book Mastering the Faithless Servant Reconciling Employment Law Contract Law and Fiduciary Duty written by Charles A. Sullivan and published by . This book was released on 2011 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The quaintly-named “faithless servant” doctrine requires employees subject to it not merely to pay damages for their derelictions but also to disgorge the compensation paid during the period of his faithlessness and without any right to recover in quantum meruit for the value the employee may have provided during that time. The net result is that an employer can recover substantial amounts of compensation paid and otherwise due without proof that it suffered any damage whatsoever and, indeed, even if it is established that there were no such damages. Such a result is startling to those who approach the question from the perspective of contract law, which normally would limit the victim of a breach to expectation damages. While those who come to the doctrine from the perspective of an agent's fiduciary duty will not be surprised by the remedies for breach of the “duty of loyalty,” they will be startled by how broadly the doctrine sweeps. In some jurisdictions it not only reaches all employees, but the automatic forfeiture remedy is more draconian than trust law requires of the quintessential faithless fiduciary, the faithless trustee. Further, while the doctrine has typically been invoked against higher-level employees, it has more recently been deployed defensively in response to lower-level employee suits for violations of antidiscrimination statutes and wage/hour laws. The natural consequence has been to up the ante for such plaintiffs, which seems likely to discourage their suits. The question of the appropriateness of enhanced remedies for some or all “faithless” employees takes place in an environment in which abuses by corporate executives are front and center in public policy debates. At the very least, however, one might anticipate that the reach of the “faithless servant” doctrine would be well-defined and its harsh consequences well-justified. Neither turns out to be true. Nor could a reconsideration of the question be timelier. In its current Restatement of Employment Law project, the American Law Institute will focus on whether the doctrine should be part of the employer's arsenal of remedies for misconduct in the employment relationship. This will compel it to decide whether to accept, reject, or modify the Institute's approval of the faithless servant rule in its earlier Restatements of Agency. Arguing that “employees” are different from other agents, this Article contends that at the least the doctrine should be inapplicable to lower-level workers and suggests reframing it even as applied to “key” employees.
Download or read book The Faithless Fiduciary written by James J. Fishman and published by . This book was released on 2007 with total page 392 pages. Available in PDF, EPUB and Kindle. Book excerpt: In recent years the nonprofit sector has been subject to numerous scandals, which have tarnished its reputation and brought demands for stricter regulation. It is often assumed these misdeeds reflect a recent change in the behavior of charities and of charitable fiduciaries, the people who work for nonprofits or serve on their boards. The reality is otherwise. Chicanery involving charities is timeless. The Faithless Fiduciary examines the enduring problem of opportunistic behavior by charitable fiduciaries, and the inability to create an effective system of oversight or accountability for charitable assets. The Faithless Fiduciary and the Quest for Charitable Accountability traces charity scandals, as well as attempts to counter such behavior from the thirteenth century to the present. One vehicle for examining the persistence of opportunistic fiduciary behavior is the Hospital of St. Cross, an almshouse founded in the twelfth century outside of the City of Winchester in Hampshire, England. St. Cross still serves the poor and offers a contemporary visitor, though unlikely to be a pilgrim on the way to Canterbury, a draught of beer and some bread. What is unique about this venerable charity is the recurrence of fiduciary wrongdoing by its leaders through the centuries in 1190, 1304, 1320, 1372, 1576, 1696, and 1853. Crossing the Atlantic, The Faithless Fiduciary examines charity scandals from the beginnings of European settlement to the present. This author offers several propositions: 1) a favorable attitude toward philanthropy has existed since the thirteenth century in both society in a normative sense and through the legal system's protection of charities; 2) many fiduciaries, regularly, in almost all contexts and periods, have breached their trust; and 3) the attempt to regulate charities and fiduciaries largely has been ineffective. The Faithless Fiduciary concludes with a proposal to make charities more accountable. "Jim Fishman is a good storyteller, and these stories -- of charitable abuses over the centuries -- are well researched, well analyzed, and well told. Professor Fishman's historical perspective is critically important today for anyone interested in the nonprofit sector. This book is required reading for practitioners, policy makers, government regulators, and scholars." -- Harvey Dale, University Professor of Philanthropy and the Law at the NYU School of Law "In this extraordinarily instructive and often dramatic volume, Professor Fishman chronicles eight centuries of governmental efforts, on both sides of the Atlantic, to deal with greed and sloth on the part of charitable officers and other fiduciaries. His relentless and imaginative scholarship yields an unmatched legal history of what he calls 'the quest for charitable accountability' and, at the same time, a series of absorbing scandal stories--from British almshouse corruption in the twelfth century to the crimes that sent United Way's chief executive to jail in 1995. The book ends with a fresh and promising proposal for the future policing of charity's faithless servants." -- Professor John Simon, Yale Law School "Professor Fishman's thoroughly researched, well-documented history demonstrates that something must be done to protect the intended recipients of charity -- and the general public -- from 'the faithless fiduciary.'" -- Harvard Law Review
Download or read book Debarring Faithless Corporate and Religious Fiduciaries in Bankruptcy written by Lyman Johnson and published by . This book was released on 2014 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: Fiduciary duties for the top governance officials of both business and religious organizations demand faithfulness to the institution's mission, a seemingly strict demand. Meaningful sanctions for breach, however, are difficult to obtain and may not deter future misconduct, including that kind of conduct leading to organizational bankruptcy. This article advocates that, to attain both special and general deterrence, bankruptcy law should look to other regulatory regimes and permit a bankruptcy court to debar faithless secular and ecclesiastical fiduciaries from holding certain leadership positions. Although written shortly before the 2012 Supreme Court Hosanna-Tabor decision, that opinion - addressing the “ministerial exception” for employees - does not alter the constitutional assessment of the position argued for in this article with respect to harm-causing, non-ministerial governing officials.
Download or read book Philosophical Foundations of Fiduciary Law written by Andrew S. Gold and published by OUP Oxford. This book was released on 2014-08-14 with total page 543 pages. Available in PDF, EPUB and Kindle. Book excerpt: Fiduciary law is a critically important body of law. Fiduciary duties ensure the integrity of a remarkable variety of relationships, institutions, and organizations. They apply to relationships of great personal significance, including in some jurisdictions the relationship between parents and children. They structure a wide variety of commercial relationships, and they are essential to the regulation of relationships between professional service providers and their clients, including relationships between lawyer and client, doctor and patient, and investment manager and client. Fiduciary duties, perhaps uniquely in private law, challenge traditional ways of marking the boundaries between private and public law, inasmuch as they figure prominently in public governance. Indeed, there is even a storied tradition of thinking of the authority of the state in fiduciary terms. Notwithstanding its importance, fiduciary law has been woefully under-analysed by legal theorists. Filling this gap with a series of chapters by leading theorists, this book includes chapters on: the nature of fiduciary relationships, the connection between fiduciary duties and morality, the content and significance of fiduciary loyalty, the economic significance of fiduciary law, the application of fiduciary principles to public law and international law, the import of fiduciary relationships to theories of authority, and various other fundamental topics in the field. In many cases, new and important questions are raised by the book's chapters. Indeed, this book not only offers a much-needed theoretical assessment of fiduciary topics, it defines the field going forward, setting an agenda for future philosophical study of fiduciary law.
Download or read book Fiduciaries and Trust written by Paul B. Miller and published by Cambridge University Press. This book was released on 2020-04-02 with total page 357 pages. Available in PDF, EPUB and Kindle. Book excerpt: Explores the interactions of fiduciary law and personal and political trust in private, public and international law.
Download or read book The Oxford Handbook of Fiduciary Law written by Evan J. Criddle and published by Oxford University Press. This book was released on 2019-04-29 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The Oxford Handbook of Fiduciary Law provides a comprehensive overview of critical topics in fiduciary law and theory through chapters authored by leading scholars. The Handbook opens with surveys of the many fields of law in which fiduciary duties arise, including agency law, trust law, corporate law, pension law, bankruptcy law, family law, employment law, legal representation, health care, and international law. Drawing on these surveys, the Handbook offers a synthetic analysis of fiduciary law's key concepts and principles. Chapters in the Handbook explore the defining features of fiduciary relationships, clarify the distinctive fiduciary duties that arise in these relationships, and identify the remedies available for breach of fiduciary duties. The volume also provides numerous comparative perspectives on fiduciary law from eminent legal historians and from scholars with deep expertise in a diverse array of the world's legal systems. Finally, the Handbook lays the groundwork for future research on fiduciary law and theory by highlighting cross-cutting themes, identifying persistent theoretical and practical challenges, and exploring how the field could be enriched through empirical analysis and interdisciplinary insights from economics, philosophy, and psychology. Unparalleled in its breadth and depth of coverage, The Oxford Handbook of Fiduciary Law represents an invaluable resource for practitioners, policymakers, scholars, and students in this essential field of law.
Download or read book Company Law written by Brenda Hannigan and published by Oxford University Press, USA. This book was released on 2016 with total page 855 pages. Available in PDF, EPUB and Kindle. Book excerpt: Employing a practical and contextual approach, this student textbook covers developments in the self-regulation of corporate governance, which is becoming global due to the activities of the OECD and World Bank.
Download or read book Verbal Behavior written by Burrhus Frederic Skinner and published by New York : Appleton-Century-Crofts. This book was released on 1957 with total page 478 pages. Available in PDF, EPUB and Kindle. Book excerpt:
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