Breach Of Fiduciary Duty
Fiduciary duty has an elegance of confidence and trust that is unlike many other bonds. A fiduciary duty is one that binds together two folks through an obligation to act accordingly. In the example of a business, the company board has a fiduciary duty to shareholders. A doctor has a fiduciary duty to patients for the best known treatment and knowledge for good health. In the example of Gordon Law Firm, our lawyers have a fiduciary duty to you as our client. We have a fiduciary duty to you because you can trust our reliance to get through your case with utmost confidence.
While fiduciary duty is exquisite on paper, humans have a tendency to breach the trusting bonds made. When one party of the fiduciary does not uphold his or her part, it is a breach of fiduciary duty. To continue with the company and shareholder example, if the shareholders are promised 10% of company earnings and the board neglects to alert the shareholders of increased profit in order to pay less, it is a breach of fiduciary duty. The company board acted in contrast to the agreement thus resulting in an unfair agreement.
The shareholders are vested in the board to keep true accounts of all business related manners in order to perform successfully. A fiduciary relationship depends on honesty, care and diligent skill. If you’ve encountered a breach in fiduciary duty in any regard in Houston, TX, Gordon Law Firm offers excellent business lawyers that will help you find the justice you deserve.