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fiduciary dutyconstructive trustsecret profits
United States v. Carter
217 U.S. 286 (1910)
Key Principle
A fiduciary or public officer who, without full disclosure, receives any secret profit, gift, or benefit through his position must account to his principal for the whole amount received, even absent proof of fraud, abuse of discretion, or actual loss to the principal.
Area of Law
General
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