Commercial relationships and the burgeoning fiduciary principle

Abstract

Judges in Australia, Canada and New Zealand have historically been reluctant to apply the exacting standards of fiduciary law to commercial relationships. More recently, courts in Canada and New Zealand have shown a greater willingness to impose such standards on commercial actors. The availability of alternative doctrines of redress in Australia, such as unconscionability, has resulted in a more cautious approach to the application of fiduciary principles in commercial settings in this country. The expansive application of fiduciary principles to commercial relationships in Canada and New Zealand, together with the development of doctrines such as unconscionability in Australia, reflects a common judicial concern for higher standards of conduct in commercial dealings.