Fiduciabt

s Held, founded, resting upon an actual trust: as, a fiduciary — capacity or character, contract or relation, debt, debtor, creditor. Fiducial. Of the nature of a trust. ■ 2 BI. Com. 327; 1 Story, Eq. § 821; 2 id. §§ 965-67; 1 Pomeroy, Eq. § 161. See 3 La. An. 432; 2 How. 619; 15 id. 357. 23 Bl. Com. 291, IDS. s Brig Alligator, 1 Gall. 149 (1812); United States ». Ames, 99 U. S. 40 (1878). * Mc Coy u. Artcher, 3 Barb. 330 (1848); 23 id. 684; A fiduciary debt is founded or arises upon some confidence or trust, as distinguished from a debt founded simply upon contract. ^ A fiduciary relationsliip is one in which, if a wrong arises, the same remedy exists against the wrong-doer on behalf of the principal as would exist against a trustee on behalf of the cestui que trust.' In the New York laws allowing arrest as a remedy for debts incurred in a fiduciary capacity, " fiduciary " imports trust, confidence; refers to integrity or fidelity rather than to credit or ability; contemplates good faith rather than legal obligation.' A debt contracted in a fiduciary capacity was not released by a discharge in bankruptcy.* This applied to technical trusts only, not to trusts implied from contracts of agency or bailment." "Fiduciary" and " confidential " relation seem to be used by the courts and law-writers as convertible expressions. It is a peculiar relation which exists between client and attorney, principal and agent, principal and surety, landlord and tenant, parent and child, guardian and ward, ancestor and heir, husband and wife, trustee and cestui que trust, executors or administrators and creditors, legatees, or distributees, appointer and appointee under powers, partner and part-owners. In these and like cases the law, to prevent undue advantage from the unlimited confidence, affection, or sense of duty which the relation creates, requires the utmost of good faith in all transactions between the parties." See Fraud; Influence; Trust, 1.