Florida Litigation Guide

Breach of Fiduciary Duty –

[1] Elements and Case Citations

(1) Plaintiff and Defendant share a relationship whereby:

(a) Plaintiff reposes trust and confidence in Defendant, and

(b) Defendant undertakes such trust and assumes a duty to advise, counsel and/or

protect Plaintiff;

(2) Defendant breaches its duties to Plaintiff; and

(3) Plaintiff suffers damages.

The elements of a claim for breach of fiduciary duty are not fixed as the claim may arise from virtually any case where one party accepts the trust and assumes the duty to protect a weaker party. See, e.g., Quinn v. Phipps, 93 Fla. 805, 113 So. 419, 420-421 (1927).

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Florida State Courts

Supreme Court: Doe v. Evans, 814 So. 2d 370, 374 (Fla. 2002)

Second District: Atlantic Nat. Bank v. Best, 480 So. 2d 1328, 1332-1333 (Fla. 2d DCA 1985), rev. denied, 491 So. 2d 281 (Fla. 1986)

Third District: Watkins v. NCNB Nat. Bank, N.A., 622 So. 2d 1063, 1065 (Fla. 3d DCA 1993), rev. denied, 634 So. 2d 629 (Fla. 1994)

Fourth District: Fourth District: Patten v. Winderman, 965 So.2d 1222, 1224 (Fla. 4^th DCA 2007)

Fifth District: Taylor Woodrow Homes Florida, Inc. v. 4/46-A Corp., 850 So. 2d 536 (Fla. 5th DCA 2003), rev. denied, 860 So. 2d 977 (Fla. 2003)

Florida Federal Courts

Southern District: In re Caribbean K Line, Ltd., 288 B.R. 908 (S.D. Fla. 2002)

Middle District: Southtrust Bank & Right Equipment Co. of Pinellas County, Inc. v. Export Insurance Services, Inc., 190 F.Supp.2d 1304, 1308 (M.D. Fla. 2002)

[2] Defenses to Claim for Breach of Fiduciary Duty

(1) Fla. R. Civ. P. 1.110(d) (pleading affirmative defenses), and other standard defenses. See § 60.

(2) Statute of Limitations: § 95.11(3)(o), Fla. Stat. (four years).

(3) The parties did not enter a fiduciary relationship, but rather conducted business in an arm’s length transaction in which there is no duty to protect the other party or disclose facts which the other party could have discovered by its own diligence. See Watkins v. NCNB Nat. Bank, N.A., 622 So. 2d 1063, 1065 (Fla. 3d DCA 1993), rev. denied, 634 So. 2d 629 (Fla. 1994).

(4) The Defendant’s alleged actions followed full disclosure to and the consent of the Plaintiff. See Avila South Condominium Ass’n, Inc. v. Kappa Corp., 347 So. 2d 599, 606-607 (Fla. 1977).

(5) A fiduciary relationship arises only where a party affirmatively accepts or undertakes the duties of a fiduciary. See Harris v. Zeuch, 103 Fla. 183, 137 So. 135, 138-139 (1931).