Consumer Protection Law Commons^™

The Price Of Trust: An Examination Of Fiduciary Duty And The Lender-Borrower Relationship, 29 Wake Forest L. Rev. 719 (1994), Cecil J. Hunt Ii

UIC Law Open Access Faculty Scholarship

Comparing the search for elements which will give rise to a fiduciary relationship between a bank and a borrower to the quest for the elusive holy grail, Professor Hunt proposes that, rather than existing only in special circumstances, the fiduciary relationship is a normal aspect of the bank-borrower relationship. Hunt explains that a fiduciary obligation is part of the parties' assumptive base in the bank-borrower relationship that must by necessity exist before any borrower would entrust private or business information to a bank in return for a loan. While acknowledging that such a relationship might be inapposite in the initial …