Q: What rights do I have if my New York contract contains a release of fiduciary duty?
In two recent New York court cases, judges upheld the validity of language in contracts that released a fiduciary duty. This means that if a fiduciary breached his or her duty to you, you may be left without recourse. If you are the party to a contract containing such a provision, it is vital that you contact an experienced New York business litigation lawyer right away for guidance.
Every breach of fiduciary duty claim is accompanied by a unique set of facts and circumstances. However, after hiring a knowledgeable professional to review the nature of your potential New York breach of fiduciary duty claim, he or she will make the following assessments:
- Whether or not a fiduciary relationship exists.
- Whether or not the fiduciary avoided self-dealing.
- Whether or not the fiduciary acted in good faith.
- Whether the language pertaining to the waiver was valid.
- Whether you entered into the contractual relationship with adequate knowledge and understanding of the risks involved.
Based upon this analysis, your attorney will advise you as to whether or not you might have a cause of action against the other party to your contract. Since there is a statute of limitations that is applicable to breach of fiduciary duty claims, it is vital to the success of your case that you consult with an attorney as quickly as possible following the breach. To learn more, contact a New York business litigation attorney today. Call our office at (888) 497-3410 for a consultation.