They are looking for something special about fiduciary relations
T]he risk of abuse which all fiduciary relations
pose for the
162) Although most courts will concede that a friendship alone cannot trigger the responsibilities of a fiduciary relation, some will still acknowledge that friendship "is often an important consideration and undoubtedly furnishes a vantage ground for one is not likely to expect a friend to deceive him into a bad bargain.
929, 933 (Iowa 1916) ("The fiduciary relation may exist wherever special confidence is reposed, whether the relationship be that of blood, business, friendship, or association, by one person in another who are in a position to have and exercise or do have and exercise influence over each other.
Some have suggested that we are living in the age of the fiduciary and that "we are witnessing the emergence of a society predominantly based on fiduciary relations.
Another way to think about the concern for trust in the law of fiduciary relations is to put the idea in a slightly different, but related, light.
Then, courts create rules for new fiduciary relations by drawing analogies with these prototypes" at 804); DeMott, "Breach", supra note 67 at 938-41 (contrasting status or "role-based" identification of fiduciary relationships with fact-based identification of fiduciary relationships).
See Frankel, "Fiduciary Law", supra note 1 ("[a] central feature of fiduciary relations is that the fiduciary serves as a substitute for the entrustor" at 808); Criddle, supra note 6 ("[t]he starting point for all fiduciary relations is substitution" at 126).
47) The court of appeals reasoned that a person in a fiduciary relation to another is under a duty to act for the benefit of the other as to matters within the scope of the relation.
795, 807-808 (1983) ("all fiduciary relations give rise to the problem of abuse of power .
Rather, the entrustor's vulnerability stems from the structure and nature of the fiduciary relation
That a director of a joint-stock corporation occupies one of those fiduciary relations
where his dealing with the subject matter of his trust or agency, and with the beneficiary or party whose interest is confided to his care, is viewed with jealousy by the courts, and may be set aside on slight grounds, is a doctrine founded on the soundest morality, and which has received the clearest recognition in this court and in others.
Trust-like or fiduciary relations can generate obligations protective of vulnerable interests with respect to which the beneficiary has no right apart from the entitlement arising from the fiduciary relationship.
Private fiduciary relations help to reveal the constitutive features of fiduciary relationships, but it is the possession of those actual features--and not an analogy to private law--that makes the relationship between public institutions and the people fiduciary.
The relationship between public institutions and legal subjects is therefore fiduciary because it possesses the constitutive features of fiduciary relations.