Law Commons^™

Helping Nonprofits Police Themselves: What Trust Law Can Teach Us About Conflicts Of Interest, Melanie B. Leslie

Chicago-Kent Law Review

Fiduciary duty law seeks to minimize agency costs that occur when the interests of the agent and principal diverge. That law is context specific: the substance depends upon the objectives of the fiduciary relationship and the degree to which other forces, such as markets and social norms, help align the incentives of principal and fiduciary.

Trust law has no business judgment rule, and prohibits even "fair" conflict of interest transactions unless they are approved by fully informed beneficiaries. Strict rules bolster norms against self-dealing and compensate for trust beneficiaries' poor monitoring abilities and inability to exit or diversify. Corporate fiduciary …

Charity Governance: What’S Trust Law Got To Do With It? (Symposium), Evelyn Brody

All Faculty Scholarship

No abstract provided.

Charity Governance: What’S Trust Law Got To Do With It? (Symposium), Evelyn Brody

Evelyn Brody

No abstract provided.

I Say It's Spinach: Charitable Trusts To Remedy Market Failures In The Performing Arts, Jeffrey G. Sherman

All Faculty Scholarship

No abstract provided.