duty of loyalty

Lord & Lindley - Lawyers in Charlotte NC

Breach of Fiduciary Duty vs. Constructive Fraud – Which Claim Do You Have?

December 21, 2016

Breach of Fiduciary Duty:               A fiduciary is an individual or corporation to whom property or power is entrusted for the benefit of another.  Fiduciaries must prudently care for any such assets, and may also have a number of additional duties, depending on the nature of their fiduciary relationship. …

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Breach of Trustees’ Fiduciary Duty – Part 2: Duty of Loyalty & Duty of Impartiality

November 16, 2016

          As we’ve mentioned in part 1 of this series, trustees are fiduciaries and, as such, trustees owe a variety of fiduciary duties to multiple parties.  These obligations include both the duty of loyalty and duty of impartiality, which we will discuss this week.  To prove a trustee breached of one…

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Six Basic Questions and Answers about Executors

September 21, 2016

          If you have a will or have ever dealt with estate administration, you are probably familiar with the term “executor.”   However, most people don’t know what an executor is or what the executor’s role is.  Additionally, what do you do if you suspect an executor is behaving fraudulently or contrary…

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North Carolina Business Court: Employment Agreements Automatically Terminate Upon the Sale Of a Company

December 16, 2015

          A recent decision by the North Carolina Business Court held that an employment agreement automatically terminates upon the asset sale of one company to another, despite continued employment with the purchasing company.[1]          In 2001, Andrew Lund executed an employment agreement with his then-employer, Southern Staircases of…

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Guardianship Proceedings in North Carolina

August 19, 2015

         It is prudent to execute a healthcare and/or financial power of attorney well in advance of necessity to ensure your individual wishes are honored in the event you are unable to attend to your own needs.  However, competency is required to execute a power of attorney.  If you become incompetent and…

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Powers Of Attorney: General Considerations

July 29, 2015

          While many people recognize the term “power of attorney,” most do not know how to create a valid power of attorney or choose between the various considerations.  It is important to prepare safeguards to protect current and future assets long before one faces severe illness or incapacity.  A power of…

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