New HC of Aus case: Fiduciary Duties (Lionel Smith, 29 Aug 1997)

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Sender:	Lionel Smith
Date:	Fri, 29 Aug 1997 13:17:36
Re:	New HC of Aus case: Fiduciary Duties

Greetings all, and welcome to new members.

There is a recent High Court of Australia case which may be of interest: Maguire v Makaronis, 25 June 1997. It is available on the web at

http://www.austlii.edu.au/au/cases/cth/high_ct/unrep322.html

The catchwords are:

Equity - Fiduciary duties - Solicitor and client relationship - Mortgage by clients in favour of solicitors - Ascertainment of particular fiduciary duties.

Equity - Equitable remedies - Rescission - Relevance of causal connection between breach of fiduciary duty and execution of mortgage - Scope of equity for rescission - Whether clients required to "do equity" by honouring contractual obligation to pay principal and interest secured by mortgage - Rate of interest payable on principal sum outstanding under mortgage.

Legal practitioners - Solicitor and client relationship - Mortgage by clients in favour of solicitors - Fiduciary duties - Equitable remedies.

Lionel Smith

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