Fiduciary Obligations in Equity Law

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Question:

Is the law of equity that establish a fiduciary obligations that are also writing down but generally considered to include follow the principles legal instructing's act in goof faith in all times keep principles interest foremost keep necessary books and accounts keep principle informed in all relevant information and though the law of equity may not be written it is further enhanced under the legislation instruments in Victoria principle legislation would be estate agents act 1980 reword

Answer:

The law of equity establishes fiduciary obligations, which, while not always codified, generally encompass several key principles. These include:

  1. Adhering to legal instructions.
  2. Acting in good faith at all times.
  3. Prioritizing the interests of the principal.
  4. Maintaining accurate books and records.
  5. Keeping the principal informed of all relevant information.

Although the law of equity may not be explicitly written, it is further supported by legislative instruments in Victoria, such as the Estate Agents Act 1980.