Page:Black's Law Dictionary (Second Edition).djvu/504

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FIDUCIA

FIDUCIA. In Roman law. An early form of mortgage or pledge, in which both the title and possession of the property were passed to the creditor by a formal act of sale, (properly with the soleninltles of the trans- action known as ma-mipatio.) there being at the same time an express or implied agreement on the part of the creditor to recouvey the property by a similar act of sale provided the debt was duly paid; but on default of Davuicnt, the property hecame absolutely vested in the creditor without foreclosure and without any right of redemption. in course of time. this form of security gave place to that known as hi/patheciz, while the cniilempairarv coiitiact of pi!/nus or pawn underwent a corresponding development. Sec Miickeld. Rom. Law. 5 33-1: Tnuik. 8: J. Mod. Rom. Law. 182-. Hadlev. Rom. Law, 201-203; Pothier, Pond. tit. "F1'A1m,'-la."

FIDUCIAL. An adjective having the same meaning as “fidiiciary;” as. in the phrase "public or fiducial office.” Ky. St. E 3752; Moss v. Rowlett, 112 Ky. 121, 65 S. W. 153.

FIDUCIARIUS TUTOR. In Roman law. The elder brother of an emancipated pupil- Ius, whose father had died leaving him still under fourteen years of age.

FIDUCIARY. The term is derived from the Roman law, and means (as a noun) a person holding the character of a trustee. or a character analogous to that of a trustee, in respect to the trust and confidence involved in it and the scrupulous good faith and candor which it requires. Thus, a person is a fiduciary who is iniested with rights and powers to be exercised for the benefit of an- other person. Sranoe v. Jrii-gens, 144 Ill. 507, 33 N. E. 955; Stoll v. King, 8 How. Prac. (N. Y.) 299.

As an adjective it means of the nature of a trust: having the characteristics of a trust; analogous to a trust; relating to or founded upon a trust or confidence.

—!‘idnciaz-y cnpneit . One is said to act in a “fiduciary capacity or to rccclve money or contract a debt in a “fiduciary capacity." when the business which he [l'lll?IS.'l(.t3, or the money or property which he handles, is not his ()\\l.1 or for his own benefit. hat for the benefit of an. other poison, as to whom he stands in a relation implying and necessitating great confidence and trust on the one part and a. high degree of good faith on the other part. The term is not restricted to technical or express trusts, but includes also such offices or relations as those of an attorney at law. a guardian. executor. or broker. a director of a corporation, and a pill]- lic officer. See Schuihlcr v. Shiells, 17 How. Prac. (N. Y.) 420; Roberts v. Presser. 53 N. Y. 260: Hefiren v. Jayne. 39 ind. 463, 13 Am. Rep. 281: Flanagan v. Pearson, 42 Tex. 1, L‘)


Am. iep. 40; Clark v. Plnckne , 50 Barb. (N. Y.) Chapman v. Forsyth, g How. 202. 1] 36' Forker v. Brown, ‘in Mis Hep.

. . Supp. ST; Madison Tp_ , un. hie. 1]-1 In . 262. 16 N. E. ’ 3.—Fiduci.a.1-y contract. An agreement by which a person

delivers a thing to another on the condition

496

FIERDING COURTS

that he will rrstore it to hini.—Fiducinry rslntian. A relation subsisting between two persons in regard to a business. contract, or piece of property, or in regard to the general business or estate of one of them, of such a character that each must repose trust and confidence in the other and must exercise a corresponding de- gree of fairness and good faith. Out of such ii relation, the law raises the rule that neither party may exert influence or pressure upon the other. take selfish advantage of his trust. or deal with the siihject-matter of the trust in such a way as to benefit blmself or prejudice the other except in thc exercise of the utmost good faith and with the full knowleclgc and consent of that other. business shrevulncss. hard bargaining, and astutcness to take adi-intue of the forgetfulness or negligence of another being totally prohi tcd as between persons standing in such a relation to each other. Examples of fiduciary l'i'1:1[i0l.l5 are those cxistin: hetiwen attorney and client, guardian and ward, pricnipal and agent. executor and heir. trustee and rcstiii quc trust. landlord and tenant, etc. See Rublns v. Hope. 57 Cal. 497: Thomas v. Whit- ney. 186 Ill. 2 5. 57 N. E. SOS: Central Nat. I-‘iank r. Conner cut Mat. L. lns. Co.. 104 U. S. (SS. 26 L. Ed. 693; Meyer v. Reiiner. 06 Kim. B . 70 Pac. SE9; Studybaker v. Cofleld. 159 hi . 596, 61 S. W. 246.


FIEI‘. A fee. feod, or feud.

FIEZE‘ D’HA'U'BER'l‘. Fl‘. In Norman feudal law. A fiet or fee held by the tenure

of knight-service; a kuight‘s fee. 2 Bi. Comm. 62. FIEF-TENANT. in old English law.

The holder or a lief or fee; a feeholder or ireeliolder.

FIEI... In Spanish law. A sequestrator; a person in whose hands a thing in displits is judicially deposited; a receiver. Las Partldas. pt. 3, tit. 9. l. 1.

FIELD. This term might well be considered as definite and certain a description as “close," and might be used in law; hot it is not a usual description in legal proceedings 1 Chit. Gen. Pr. 160.

FIELD-ALE. An ancient custom in England, by which officers of the forest and bailiffs of hundreds had the right to compel the hundred to furnish them with ale. Tom- [lns.

FIELD REHVE. An ofllcer elected. in England, by the owners of a regulated pasture to keep in order the fences. ditches. etc., on the land. to regulate the times during which animals are to be admitted to the pasture, and generally to maintain and manage the pasture subject to the ins! 'uc-l ions of the owneis (General lnclosure Act, 18-15. 5118.) Sweet.

FLELDAD. In Spanish law. Sequestration. This is allowed in six cases by the Spanish law where the title to property is in dispute. Las Partidas. pt. 3, tit. 3, 1. 1.

FIERDING COURTS. Ancient Gothic

courts of an inferior Jurisdiction, so called