Practice point: The elements of the cause of action are (1) the existence of a fiduciary relationship; (2)
misconduct by the defendant; and (3) damages directly caused by the
defendant's misconduct. The claim must be pleaded with particularity under CPLR 3016(b).
Student note: A fiduciary relationship arises when one is under a duty to act for
or to give advice for the benefit of another upon matters within the
scope of the relation. It is grounded in a higher level of trust than normally present
in the marketplace between those involved in arm's length business
transactions.
Case: Saul v. Cahan, NY Slip Op 06390 (2d Dep't August 30, 2017)
Here is the decision.
Tomorrow's issue: Ambiguous contracts.
