The author is mainly concerned to explore if the relationships between the parties are fiduciary in nature. He has divided the discussion into three parts for this purpose. The first examines a number of general themes which have a significant impact on development of the fiduciary concept. Among these are: the applicability of fiduciary norms to commercial transactions, the moral and social purposes of the law and the impact these have on the formation of legal principle, the interrelationship between fiduciary law and the law of undue influence, and so on. The next part will move to consider two tests which have found favour with Commonwealth courts in determining the applicability of fiduciary law to novel situations. Third, I will commend for your especial consideration the approach of Professor Robert Flanningan of Saskatchewan Law School. His thesis is that fiduciary law is triggered wherever a person has access to assets (belonging to another person) for a limited purpose, and he also suggests a general range of obligations which may or may not be applicable to such situations depending on the type of access, the extent of the limits which the purpose imposes, and so on. Before concluding, he attaches a rider relevant to the application of aspects of Commonwealth Law to Indian situation.



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