Keech v Sandford
E628500
Keech v Sandford is an 18th-century English trust law case establishing the strict fiduciary duty of loyalty, holding that trustees cannot personally profit from opportunities arising from their position.
Statements (44)
| Predicate | Object |
|---|---|
| instanceOf |
English legal case
ⓘ
fiduciary law case ⓘ trust law case ⓘ |
| alsoKnownAs | Keech v Sandford (Trustees’ Lease Case) NERFINISHED ⓘ |
| appliesTo |
company directors
ⓘ
other fiduciaries ⓘ trustees ⓘ |
| areaOfLaw |
equity
ⓘ
fiduciary duties ⓘ trust law ⓘ |
| citationStyle | Keech v Sandford (1726) Sel Cas Ch 61 NERFINISHED ⓘ |
| coreIssue | whether a trustee may renew a lease for personal benefit when the landlord refuses to renew to the trust ⓘ |
| country | Kingdom of Great Britain ⓘ |
| court | Court of Chancery NERFINISHED ⓘ |
| decisionYear | 1726 ⓘ |
| establishesPrinciple |
a trustee cannot take for himself an opportunity that arises from the trust property
ⓘ
a trustee must not profit from his position ⓘ equity’s strict approach to fiduciary conflicts of interest ⓘ fiduciary must account for profits even if beneficiary could not have obtained the benefit ⓘ strict liability for fiduciaries who make unauthorized profits ⓘ |
| holding | trustee who renews a lease for himself must hold it on trust for the beneficiary ⓘ |
| influenced |
Boardman v Phipps
NERFINISHED
ⓘ
Bristol and West Building Society v Mothew NERFINISHED ⓘ Regal (Hastings) Ltd v Gulliver NERFINISHED ⓘ |
| involvesParty |
Keech
NERFINISHED
ⓘ
Sandford NERFINISHED ⓘ |
| involvesRole |
beneficiary
ⓘ
trustee ⓘ |
| jurisdiction | England ⓘ |
| languageOfRecord | English ⓘ |
| leadingCaseOn |
conflict of interest in fiduciary relationships
ⓘ
fiduciary duty of loyalty ⓘ no-profit rule for trustees ⓘ |
| legalPrincipleType |
no-conflict rule
ⓘ
no-profit rule ⓘ |
| legalSystem | common law ⓘ |
| reasoning | equity must be strict to prevent temptation for trustees to prefer their own interests ⓘ |
| remedy |
account of profits
ⓘ
constructive trust over the renewed lease ⓘ |
| status | good law ⓘ |
| subjectMatter |
lease of a market stall
ⓘ
renewal of lease held on trust ⓘ |
| taughtIn |
English law schools
ⓘ
common law jurisdictions ⓘ |
Referenced by (1)
Full triples — surface form annotated when it differs from this entity's canonical label.