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When Does a Standard Lender-Borrower Relationship Become a Fiduciary Relationship Imposing Extra Fiduciary Duties?

May 11, 2012 Banking & Financial Services Industry Legal Blog

In order to state a cause of action in Florida for breach of fiduciary duty, there must exist a fiduciary duty, a breach thereof, and resulting damages. Gracey v. Eaker, 837 So. 2d 348,353 (Fla. 2002). In Doe v. Evans, 814 So.2d 370 (Fla. 2002), a fiduciary relationship was characterized as follows:

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