Fiduciary relationships - Texas common law

A fiduciary owes a duty to act for someone else's benefit, while subordinating one's personal interests to those of the other person.  It is commonly referred to as the highest standard imposed by law.  Recognizing the  circumstances that impose such a duty under Texas law is not always simple.  However, Texas law imposes a fiduciary duty in certain common relationships, including:

  • Attorney-client
  • Partners
  • Agents
  • Spouses
  • Holder of a power of attorney
  • Officers of corporation
  • Joint venturers
  • Executor of an estate
  • Trustee of a trust
  • Stockbrokers
  • Taxpayers
  • Class action representatives
  • Mineral rights holders to holders of non-executive interests
  • Condominium board members
  • Employees

Credit to O'Connor's, Texas Causes of Action (2008). North Texas Fiduciary Litigation Attorneys - Dallas, Collin, Grayson

Fiduciary duty, TXPLMichael Young