KFLCC Kingdom Law 2nd Ed.

496

FIERDING COURTS

FIDUCIA

FXDTJCIA. 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 solemnities of the trans action known as mancipatio,) there being at the same time an express or implied agree ment on the part of the creditor to reconvey the property by a similar act of sale provided the debt was duly paid; but on default of payment, the property became 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 hypotheca, while the contemporary contract of pignus or pawn un derwent a corresponding development. See Mackeld. Rom. Law, § 334; Tomk. & J. Mod. Rom. Law, 182; Hadley, Rom. Law, 201-203; Pothier, Pand. tit "Fiducia." An adjective having the same meaning as "fiduciary;" as, in the phrase "public or fiducial office." Ky. St. § 3752; Moss v. Rowlett, 112 Ky. 121, 65 S. W. 153. FIDUCIARIUS TUTOR. In Roman law. The elder brother of an emancipated pupil lus, whose father had died leaving him still under fourteen years of age. FZDUOIARY. 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 can dor which it requires. Thus, a person is a fiduciary who is invested with rights and powers to be exercised for the benefit of an other person. Svanoe v. Jurgens, 144 111. 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. —Fiduciary capacity. One is said to act in a "fiduciary capacity" or to receive money or contract a debt in a "fiduciary capacity," when the business which he transacts, or the money or property which he handles, is not his own or for his own benefit, but for the benefit of an other person, as to whom he stands in a rela tion 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 pub lic officer. See Schudder v. Shiells, 17 How. Prac. (N. T.) 420; Roberts v. Prosser, 53 N. Y. 260; Heffren v. Jayne, 39 Ind. 465, 13 Am. Rep. 281; Flanagan v. Pearson, 42 Tex. 1, 19 Am. Rep. 40; Clark v. Pinckney, 50 Barb. (N. Y.) 226; Chapman v. Forsyth, 2 How. 202,-11 L. Ed. 236; Forker v. Brown, 10 Misc. Rep. 161, 30 N. Y. Supp. 827; Madison Tp. v. Dun kle, 114 Ind. 262, 16 N. E. 593.—Fiduciary contract. An agreement by which a person delivers a thing to another on the condition FIDUCIAL.

that he will restore it to him.—Fiduciary re lation. A relation subsisting between two per sons 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 a 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 subject-matter of the trust in such a way as to benefit himself or prejudice the other except in the exercise of the utmost good faith and with the full knowledge and consent of that other, business shrewdness, hard bar gaining, and astuteness to take advantage of the forgetfulness or negligence of another being totally prohibited as between persons standing in such a relation to each other. Examples of fiduciary relations are those existing between attorney and client, guardian and ward, prin cipal and agent, executor and heir, trustee and cestui que trust, landlord and tenant, etc. See Robins v. Hope, 57 Cal. 497; Thomas v. Whit ney, 186 111. 225, 57 N. E. 808; Central Nat Bank v Connecticut Mut. L. Ins. Co., 104 U. S. 68, 26 L. Ed. 693; Meyer v. Reimer, 65 Kan. 822, 70 Pac. 869; Studybaker v. Cofield, 159 Mo. 596, 61 S. W. 246. Fr. In Norman feudal law. A fief or fee held by the tenure of knight-service; a knight's fee. 2 Bl. Comm. 62. FIEF-TENANT. In old English law. The holder of a fief or fee; a feeholder or freeholder. FIEL. In Spanish law. A sequestrator; a'person in whose hands-a thing in dispute is judicially deposited; a receiver. Las Par tidas, pt. 3, tit. 9, 1. 1. FIELD. This term might well be con sidered as definite and certain a description as "close," and might be used in law*; but it is not a usual description in legal proceed ings. 1 Chit Gen. Pr. 160. FIELD-ALE. An ancient custom in Eng land, by which officers of the forest and bailiffs of hundreds had the right to compel the hundred to furnish them with ale. Tom lins. FIELD REEVE. An oflicer elected, in England, by the owners of a regulated pas ture 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 man age the pasture subject to the instructions of the owners. (General Inclosure Act 1845, i 118.) Sweet FIELDAD. In Spanish law. Sequestra tion. 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. Ancient Gothic courts of an inferior jurisdiction, so called FIEF. A fee, feod, or feud. FIEF D'HAUBERT. FIERDING COURTS.