“Just as we have dislodged the encrusted concepts of the ancient doctrine of caveat emptor ... this court has rejected the old predatory philosophies of business relationships. Our decisions have enhanced the obligation of agents and fiduciaries, functioning in positions of trust and confidence, to perform their duties in complete candor, honesty, loyalty and good faith.” (citations omitted)
How later courts described this case
- “Just as we have dislodged the encrusted concepts of the ancient doctrine of caveat emptor ... this court has rejected the old predatory philosophies of business relationships. Our decisions have enhanced the obligation of agents and fiduciaries, functioning in positions of trust and confidence, to perform their duties in complete candor, honesty, loyalty and good faith.” (citations omitted)
Written by the judges who cited it.
The opinion
McCORMICK, Justice
(concurring specially).
I believe the trial court findings of fact are supported by substantial evidence, and we are bound by them. To the extent the majority opinion makes contrary findings as a matter of law, I am unable to join it. However, the controlling question is a legal one. It is whether Millers forfeited their commission because of their failure to disclose to Berkoskis their loans to Harsh. On that question I agree with the court that they had a duty to disclose the loans and that they forfeited their commission by keeping the loans secret. As the court holds in division III of the opinion, this result follows without regard to whether the breach of duty caused Berkoskis any loss.