The Felix Mendelssohn Bartholdy Foundation is a not-for-profit independent foundation governed according to civil law. It is based in the Mendelssohn House (where the composer lived in the 1840s) in Leipzig .
129-680: Originally set up in 2003 as a fiduciary foundation, the Mendelssohn Foundation's legal status was changed in 2012 by the Leipzig city authorities, here operating in partnership with the already registered "Mendelssohn House International Mendelssohn Foundation" ( "Mendelssohn-Haus Internationale Mendelssohn Stiftung" ). This was when the Felix Mendelssohn Bartholdy Foundation became a not-for-profit independent foundation, governed according to civil law. The constitution of
258-697: A blind trust , placing their financial affairs in the hands of a fiduciary and giving up all right to know about or intervene in their handling. The fiduciary functions of trusts and agencies are commonly performed by a trust company , such as a commercial bank , organized for that purpose. In the United States, the Office of the Comptroller of the Currency (OCC), an agency of the United States Department of
387-545: A conflict of interest . The state of Texas in the United States sets out the duties of a fiduciary in its Estates Code, chapter 751, as follows (the bracketed references to TPC refer to the Texas Probate Code superseded by the Estates Code, effective January 1, 2014): A fiduciary's duty must not conflict with another fiduciary duty. Conflicts between one fiduciary duty and another fiduciary duty arise most often when
516-522: A conflict of interest . It has been said that fiduciaries must conduct themselves "at a level higher than that trodden by the crowd" and that "[t]he distinguishing or overriding duty of a fiduciary is the obligation of undivided loyalty". Different jurisdictions regard fiduciary duties in different lights. Canadian law , for example, has developed a more expansive view of fiduciary obligation than American law , while Australian law and British law have developed more conservative approaches than either
645-464: A lawyer or an agent , such as a real estate agent , represent more than one client, and the interests of those clients conflict. This would occur when a lawyer attempts to represent both the plaintiff and the defendant in the same matter, for example. The rule comes from the logical conclusion that a fiduciary cannot make the principal's interests a top priority if he has two principals and their interests are diametrically opposed; he must balance
774-423: A trust may owe fiduciary duties to the beneficiaries , although there is no case law establishing this to be the case. In 2015, the United States Department of Labor issued a proposed rule that if finalized would extend the fiduciary duty relationship to investment advisors and some brokers including insurance brokers. In 2017, the first Trump administration planned to order a 180-delay of implementation of
903-421: A band currently under contract with one another (or with some other tangible, existing relationship that creates a legal duty) record songs together. Let us imagine it is a serious, successful band and that a court would declare that the two members are equal partners in a business. One day, X takes some demos made cooperatively by the duo to a recording label, where an executive expresses interest. X pretends it
1032-511: A ceremonial county, or be a district tier within a shire county , be a royal or metropolitan borough , have borough or city status , or be a unitary authority . At the community level, much of England is divided into civil parishes with their own councils ; in Greater London only one such parish, Queen's Park , exists as of 2014 after they were abolished in 1965 until legislation allowed their recreation in 2007. From 1994 until
1161-419: A different, stricter standard of behavior than the comparable tortious duty of care in common law. The fiduciary has a duty not to be in a situation where personal interests and fiduciary duty conflict, not to be in a situation where their fiduciary duty conflicts with another fiduciary duty, and a duty not to profit from their fiduciary position without knowledge and consent. A fiduciary ideally would not have
1290-445: A fideicommissum is a fideicommissioner and one that receives property from a fiduciary heir is a fideicommissary heir . Fiduciary principles may be applied in a variety of legal contexts. Joint ventures , as opposed to business partnerships , are not presumed to carry a fiduciary duty; however, this is a matter of degree. If a joint venture is conducted at commercial arm's length and both parties are on an equal footing then
1419-452: A fiduciary duty between certain classes of persons include these: In Australia, the categories of fiduciary relationships are not closed. Roman and civil law recognized a type of contract called fiducia (also contractus fiduciae or fiduciary contract), involving essentially a sale to a person coupled with an agreement that the purchaser should sell the property back upon the fulfillment of certain conditions. Such contracts were used in
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#17330924082991548-517: A fiduciary prudently takes care of money or other assets for another person. One party, for example, a corporate trust company or the trust department of a bank, acts in a fiduciary capacity to another party, who, for example, has entrusted funds to the fiduciary for safekeeping or investment. Likewise, financial advisers , financial planners , and asset managers, including managers of pension plans, endowments, and other tax-exempt assets, are considered fiduciaries under applicable statutes and laws. In
1677-425: A fiduciary relationship, one person, in a position of vulnerability, justifiably vests confidence, good faith , reliance, and trust in another whose aid, advice, or protection is sought in some matter. In such a relation, good conscience requires the fiduciary to act at all times for the sole benefit and interest of the one who trusts. A fiduciary is someone who has undertaken to act for and on behalf of another in
1806-501: A geographical frame of reference. Of these, 38 developed gradually since the Middle Ages ; these were reformed to 51 in 1974 and to their current number in 1996. Each has a Lord Lieutenant and High Sheriff ; these posts are used to represent the British monarch locally. Some counties, such as Herefordshire , are only divided further into civil parishes. The royal county of Berkshire and
1935-570: A mortgage may sell fractional shares to investors, thereby creating a participating mortgage . A fiduciary will be liable to account if proven to have acquired a profit, benefit or gain from the relationship by one of three means: Therefore, it is said the fiduciary has a duty not to be in a situation where personal interests and fiduciary duty conflict, a duty not to be in a situation where his fiduciary duty conflicts with another fiduciary duty, and not to profit from his fiduciary position without express knowledge and consent. A fiduciary cannot have
2064-399: A particular matter in circumstances which give rise to a relationship of trust and confidence. Fiduciary duties in a financial sense exist to ensure that those who manage other people's money act in their beneficiaries' interests, rather than serving their own interests. A fiduciary duty is the highest standard of care in equity or law. A fiduciary is expected to be extremely loyal to
2193-402: A probate court or judge a surety bond , called a fiduciary bond or probate bond , to guarantee faithful performance of his duties. One of those duties may be to prepare, generally under oath, an inventory of the tangible or intangible property of the estate, describing the items or classes of property and usually placing a valuation on them. A bank or other fiduciary having legal title to
2322-643: A profound and permanent effect on the English language. Subsequently, the House of Plantagenet from Anjou inherited the English throne under Henry II , adding England to the budding Angevin Empire of fiefs the family had inherited in France including Aquitaine . They reigned for three centuries, some noted monarchs being Richard I , Edward I , Edward III and Henry V . The period saw changes in trade and legislation, including
2451-777: A separate sovereign state on 1 May 1707, when the Acts of Union brought into effect a political union with the Kingdom of Scotland that created the Kingdom of Great Britain . England is the origin of the English language , the English legal system (which served as the basis for the common law systems of many other countries), association football , and the Anglican branch of Christianity; its parliamentary system of government has been widely adopted by other nations. The Industrial Revolution began in 18th-century England, transforming its society into
2580-446: A struggle for hegemony between Northumbria and Mercia, which in the 8th century gave way to Mercian preeminence. In the early 9th century Mercia was displaced as the foremost kingdom by Wessex. Later in that century escalating attacks by the Danes culminated in the conquest of the north and east of England, overthrowing the kingdoms of Northumbria, Mercia and East Anglia. Wessex under Alfred
2709-611: A test appropriate to determine whether a fiduciary relationship exists for one purpose might be inappropriate for another: In 2014 the Law Commission (England and Wales) reviewed the fiduciary duties of investment intermediaries, looking particularly at the duties on pension trustees. They commented that the term "fiduciary" is used in many different ways. Fiduciary duties cannot be understood in isolation. Instead they are better viewed as ‘legal polyfilla ’, molding themselves flexibly around other legal structures, and sometimes filling
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#17330924082992838-445: Is all his work and receives an exclusive contract and $ 50,000. Y is unaware of the encounter until reading it in the paper the next week. This situation represents a conflict of interest and duty. Both X and Y hold fiduciary duties to each other, which means they must subdue their own interests in favor of the duo's collective interest. By signing an individual contract and taking all the money, X has put personal interest above
2967-462: Is also applied to England in a more poetic capacity, though its original meaning is the island of Britain as a whole. The earliest known evidence of human presence in the area now known as England was that of Homo antecessor , dating to about 780,000 years ago. The oldest proto-human bones discovered in England date from 500,000 years ago. Modern humans are known to have inhabited the area during
3096-416: Is between a trustee , whether real or juristic, and a beneficiary . The trustee to whom property is legally committed is the legal—i.e., common law—owner of all such property. The beneficiary, at law, has no legal title to the trust ; however, the trustee is bound by equity to suppress their own interests and administer the property only for the benefit of the beneficiary. In this way, the beneficiary obtains
3225-485: Is damp relatively frequently and is changeable. The coldest months are January and February, the latter particularly on the English coast , while July is normally the warmest month. Months with mild to warm weather are May, June, September and October. Rainfall is spread fairly evenly throughout the year. Important influences on the climate of England are its proximity to the Atlantic Ocean , its northern latitude and
3354-412: Is due to pragmatic reasons, especially in regard to a bankrupt fiduciary. If a fiduciary takes a bribe and that bribe is considered a debt then if the fiduciary goes bankrupt the debt will be left in his pool of assets to be paid to creditors and the principal may miss out on recovery because other creditors were more secured. If the bribe is treated as held on a constructive trust then it will remain in
3483-622: Is governed directly by the Parliament of the United Kingdom , although other countries of the United Kingdom have devolved governments. There has been debate about how to counterbalance this in England. Originally it was planned that various regions of England would be devolved, but following the proposal's rejection by the North East in a 2004 referendum , this has not been carried out. In 2024, an England-only intergovernmental body, known as
3612-640: Is high moorland in upland areas, indented by fertile valleys of the region's rivers. They contain two national parks , the Yorkshire Dales and the Peak District . In the West Country , Dartmoor and Exmoor of the Southwest Peninsula include upland moorland supported by granite. The English Lowlands are in the central and southern regions of the country, consisting of green rolling hills, including
3741-758: Is known as the lost colony after it was found abandoned on the return of the late-arriving supply ship. With the East India Company , England also competed with the Dutch and French in the East. During the Elizabethan period, England was at war with Spain. An armada sailed from Spain in 1588 as part of a wider plan to invade England and re-establish a Catholic monarchy. The plan was thwarted by bad coordination, stormy weather and successful harrying attacks by an English fleet under Lord Howard of Effingham . This failure did not end
3870-603: Is mostly found in the north and west, including Dartmoor , the Lake District , the Pennines , and the Shropshire Hills . The country's capital is London , the metropolitan area of which has a population of 14.2 million as of 2021, representing the United Kingdom's largest metropolitan area. England's population of 56.3 million comprises 84% of the population of the United Kingdom, largely concentrated around London,
3999-454: Is part of the United Kingdom, a constitutional monarchy with a parliamentary system . There has not been a government of England since 1707, when the Acts of Union 1707 , putting into effect the terms of the Treaty of Union , joined England and Scotland to form the Kingdom of Great Britain . Before the union England was ruled by its monarch and the Parliament of England . Today England
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4128-465: Is similar to that of other areas in the British Isles with a wide range of vertebrate and invertebrate life in a diverse range of habitats. National nature reserves in England are designated by Natural England as key places for wildlife and natural features in England. They were established to protect the most significant areas of habitat and of geological formations. NNRs are managed on behalf of
4257-509: The 1535–1542 acts . There were internal religious conflicts during the reigns of Henry's daughters, Mary I and Elizabeth I . The former took the country back to Catholicism while the latter broke from it again, forcefully asserting the supremacy of Anglicanism . The Elizabethan era is the epoch in the Tudor age of the reign of Queen Elizabeth I ("the Virgin Queen"). Historians often depict it as
4386-624: The Age of Discovery . Henry VIII broke from communion with the Catholic Church, over issues relating to his divorce, under the Acts of Supremacy in 1534 which proclaimed the monarch head of the Church of England . In contrast with much of European Protestantism , the roots of the split were more political than theological. He also legally incorporated his ancestral land Wales into the Kingdom of England with
4515-568: The Angeln region of what is now the German state of Schleswig-Holstein . The earliest recorded use of the term, as " Engla londe ", is in the late-ninth-century translation into Old English of Bede 's Ecclesiastical History of the English People . The term was then used to mean "the land inhabited by the English", and it included English people in what is now south-east Scotland but was then part of
4644-574: The Battle of Trafalgar confirmed the naval supremacy Britain had established during the course of the eighteenth century. The Napoleonic Wars fostered a concept of Britishness and a united national British people , shared with the English, Scots and Welsh. London became the largest and most populous metropolitan area in the world during the Victorian era , and trade within the British Empire – as well as
4773-532: The Battle of Watling Street . The author of one study of Roman Britain suggested that from 43 AD to 84 AD, the Roman invaders killed somewhere between 100,000 and 250,000 people from a population of perhaps 2,000,000. This era saw a Greco-Roman culture prevail with the introduction of Roman law , Roman architecture , aqueducts , sewers , many agricultural items and silk. In the 3rd century, Emperor Septimius Severus died at Eboracum (now York ), where Constantine
4902-648: The British Isles , but also from the Commonwealth , particularly the Indian subcontinent . Since the 1970s there has been a large move away from manufacturing and an increasing emphasis on the service industry . As part of the United Kingdom, the area joined a common market initiative called the European Economic Community which became the European Union . Since the late 20th century the administration of
5031-596: The Cotswold Hills , Chiltern Hills , North and South Downs ; where they meet the sea they form white rock exposures such as the cliffs of Dover . This also includes relatively flat plains such as the Salisbury Plain , Somerset Levels , South Coast Plain and The Fens . England has a temperate maritime climate : it is mild with temperatures not much lower than 0 °C (32 °F) in winter and not much higher than 32 °C (90 °F) in summer. The weather
5160-712: The Court of Appeal , the High Court of Justice for civil cases, and the Crown Court for criminal cases. The Supreme Court of the United Kingdom is the highest court for criminal and civil cases in England and Wales . It was created in 2009 after constitutional changes, taking over the judicial functions of the House of Lords . A decision of the Supreme Court is binding on every other court in
5289-567: The Courts of England and Wales continued, under the Treaty of Union , as a separate legal system from the one used in Scotland . The general essence of English law is that it is made by judges sitting in courts, applying their common sense and knowledge of legal precedent – stare decisis – to the facts before them. The court system is headed by the Senior Courts of England and Wales, consisting of
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5418-705: The French Revolution , under George III and William Pitt the Younger . The regency of George IV is noted for its elegance and achievements in the fine arts and architecture. During the Napoleonic Wars , Napoleon planned to invade from the south-east ; however, this failed to manifest and the Napoleonic forces were defeated by the British: at sea by Horatio Nelson , and on land by Arthur Wellesley . The major victory at
5547-644: The Labour Party , 116 from the Conservative Party , 65 from the Liberal Democrats , five for Reform UK and four for the Green Party of England and Wales . The English law legal system, developed over the centuries, is the basis of common law legal systems used in most Commonwealth countries and the United States (except Louisiana ). Despite now being part of the United Kingdom, the legal system of
5676-550: The Latin word Anglii is used. The etymology of the tribal name itself is disputed by scholars; it has been suggested that it derives from the shape of the Angeln peninsula, an angular shape. How and why a term derived from the name of this tribe, rather than others such as the Saxons , came to be used for the entire country is not known, but it seems this is related to the custom of calling
5805-551: The Leipzig Gewandhaus Orchestra . Masur held the post for nearly thirty years. Masur has also played a leading part in the work of the foundation and of its predecessor entities: he was the foundation's president. The chairman of the supervisory board is Burkhard Jung , the lord mayor of Leipzig. Fiduciary A fiduciary is a person who holds a legal or ethical relationship of trust with one or more other parties (person or group of persons). Typically,
5934-692: The Mayoral Council for England , was established to bring together ministers from the UK Government , the Mayor of London and the leaders of combined authorities . In the House of Commons which is the lower house of the British Parliament based at the Palace of Westminster , there are 543 members of parliament (MPs) for constituencies in England, out of the 650 total. England is represented by 347 MPs from
6063-537: The Ministry of Justice , manages most prisons, housing 81,309 prisoners in England and Wales as of September 2022 . The subdivisions of England consist of up to four levels of subnational division , controlled through a variety of types of administrative entities created for the purposes of local government . Outside the London region, England's highest tier is the 48 ceremonial counties . These are used primarily as
6192-672: The Severn is the longest river flowing through England. It empties into the Bristol Channel and is notable for its Severn Bore (a tidal bore ), which can reach 2 metres (6.6 ft) in height. However, the longest river entirely in England is the Thames, which is 215 miles (346 km) in length. There are many lakes in England ; the largest is Windermere , within the aptly named Lake District . Most of England's landscape consists of low hills and plains, with upland and mountainous terrain in
6321-836: The South East , and conurbations in the Midlands , the North West , the North East , and Yorkshire , which each developed as major industrial regions during the 19th century. The name "England" is derived from the Old English name Englaland , which means "land of the Angles ". The Angles were one of the Germanic tribes that settled in Great Britain during the Early Middle Ages . They came from
6450-479: The State Opening of Parliament by the British monarch when the doors of the House of Commons are slammed in the face of the monarch's messenger, symbolising the rights of Parliament and its independence from the monarch. With the founding of the Royal Society in 1660, science was greatly encouraged. In 1666 the Great Fire of London gutted the city of London, but it was rebuilt shortly afterward with many significant buildings designed by Sir Christopher Wren . By
6579-451: The Stuart dynasty England expanded in trade, finance and prosperity. The Royal Navy developed Europe's largest merchant fleet. After the parliaments of England and Scotland agreed, the two countries joined in political union , to create the Kingdom of Great Britain in 1707. To accommodate the union, institutions such as the law and national churches of each remained separate. Under the newly formed Kingdom of Great Britain, output from
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#17330924082996708-433: The Trinovantes . The Romans invaded Britain in 43 AD during the reign of Emperor Claudius , subsequently conquering much of Britain , and the area was incorporated into the Roman Empire as Britannia province . The best-known of the native tribes who attempted to resist were the Catuvellauni led by Caratacus . Later, an uprising led by Boudica , Queen of the Iceni , ended with Boudica's suicide following her defeat at
6837-416: The University of Music and Theatre "Felix Mendelssohn Bartholdy" Leipzig . The foundation is also to administer and operate the Mendelssohn Museum in the Mendelssohn House and the carriage house belonging to it. The first prize winner, in 2007, of the International Mendelssohn Prize in Leipzig was the conductor Kurt Masur , one of Mendelssohn's successors as chief conductor ( "Gewandhauskapellmeister" ) of
6966-419: The Upper Paleolithic period, though permanent settlements were only established within the last 6,000 years. After the last ice age only large mammals such as mammoths , bison and woolly rhinoceros remained. Roughly 11,000 years ago, when the ice sheets began to recede, humans repopulated the area; genetic research suggests they came from the northern part of the Iberian Peninsula . The sea level
7095-470: The canal age in Britain . In 1825 the world's first permanent steam locomotive-hauled passenger railway – the Stockton and Darlington Railway – opened to the public. During the Industrial Revolution , many workers moved from England's countryside to new and expanding urban industrial areas to work in factories, for instance at Birmingham and Manchester , with the latter the world's first industrial city. England maintained relative stability throughout
7224-454: The courts will be reluctant to find a fiduciary duty, but if the joint venture is carried out more in the manner of a partnership then fiduciary relationships can and often will arise. Husbands and wives are not presumed to be in a fiduciary relationship in many jurisdictions; however, this may be easily established. Similarly, ordinary commercial transactions in themselves are not presumed to but can give rise to fiduciary duties, should
7353-435: The decline of the Roman Empire , Britain was left exposed by the end of Roman rule in Britain and the withdrawal of Roman army units, to defend the frontiers in continental Europe and partake in civil wars. Celtic Christian monastic and missionary movements flourished. This period of Christianity was influenced by ancient Celtic culture in its sensibilities, polity, practices and theology. Local "congregations" were centred in
7482-426: The duty of care , (2) the duty of loyalty and (3) the duty of good faith . The duty of care requires control persons to act on an informed basis after due consideration of all information. The duty includes a requirement that such persons reasonably inform themselves of alternatives. In doing so, they may rely on employees and other advisers so long as they do so with a critical eye and do not unquestionably accept
7611-434: The golden age in English history that represented the apogee of the English Renaissance and saw the flowering of great art, drama, poetry, music and literature. England during this period had a centralised, well-organised, and effective government. Competing with Spain , the first English colony in the Americas was founded in 1585 by explorer Walter Raleigh in Virginia and named Roanoke . The Roanoke colony failed and
7740-473: The jet engine led to wider air travel . Residential patterns were altered in England by private motoring, and by the creation of the National Health Service in 1948, providing publicly funded health care to all permanent residents free at the point of need. Combined, these prompted the reform of local government in England in the mid-20th century. Since the 20th century, there has been significant population movement to England, mostly from other parts of
7869-501: The use of property without being its technical owner. Others, such as corporate directors , may be held to a fiduciary duty similar in some respects to that of a trustee. This happens when, for example, the directors of a bank are trustees for the depositors, the directors of a corporation are trustees for the stockholders or a guardian is trustee of their ward's property. A person in a sensitive position sometimes protects themselves from possible conflict of interest charges by setting up
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#17330924082997998-426: The 32 London Boroughs and the 25 Wards of the City of London . Geographically, England includes the central and southern two-thirds of the island of Great Britain, plus such offshore islands as the Isle of Wight and the Isles of Scilly . It is bordered by two other countries of the United Kingdom: to the north by Scotland and to the west by Wales. England is closer than any other part of mainland Britain to
8127-516: The 6th century. Contemporary texts describing this period are extremely scarce, giving rise to its description as a Dark Age . Details of the Anglo-Saxon settlement of Britain are consequently subject to considerable disagreement; the emerging consensus is that it occurred on a large scale in the south and east but was less substantial to the north and west, where Celtic languages continued to be spoken even in areas under Anglo-Saxon control. Roman-dominated Christianity had, in general, been replaced in
8256-401: The Court reluctant in recognising the fiduciary relationship. In 2011, in an insider trading case, the U.S. Securities and Exchange Commission brought charges against a boyfriend of a Disney intern, alleging he had a fiduciary duty to his girlfriend and breached it. The boyfriend, Toby Scammell, allegedly received and used insider information on Disney's takeover of Marvel Comics. Generally,
8385-448: The English kingdom of Northumbria . The Anglo-Saxon Chronicle recorded that the Domesday Book of 1086 covered the whole of England, meaning the English kingdom, but a few years later the Chronicle stated that King Malcolm III went "out of Scotlande into Lothian in Englaland", thus using it in the more ancient sense. The earliest attested reference to the Angles occurs in the 1st-century work by Tacitus , Germania , in which
8514-416: The European continent. It is separated from France ( Hauts-de-France ) by a 21-mile (34 km) sea gap, though the two countries are connected by the Channel Tunnel near Folkestone . England also has shores on the Irish Sea , North Sea and Atlantic Ocean. The ports of London, Liverpool , and Newcastle lie on the tidal rivers Thames , Mersey and Tyne respectively. At 220 miles (350 km),
8643-466: The Germanic people in Britain Angli Saxones or English Saxons to distinguish them from continental Saxons (Eald-Seaxe) of Old Saxony in Germany. In Scottish Gaelic , the Saxon tribe gave their name to the word for England ( Sasunn ); similarly, the Welsh name for the English language is Saesneg . A romantic name for England is Loegria , related to the Welsh word for England, Lloegr , and made popular by its use in Arthurian legend . Albion
8772-403: The Great was left as the only surviving English kingdom, and under his successors, it steadily expanded at the expense of the kingdoms of the Danelaw . This brought about the political unification of England, first accomplished under Æthelstan in 927 and definitively established after further conflicts by Eadred in 953. A fresh wave of Scandinavian attacks from the late 10th century ended with
8901-439: The North, and the successful Norman Conquest in October 1066, accomplished by an army led by Duke William of Normandy invading at Hastings late September 1066. The Normans themselves originated from Scandinavia and had settled in Normandy in the late 9th and early 10th centuries. This conquest led to the almost total dispossession of the English elite and its replacement by a new French-speaking aristocracy, whose speech had
9030-408: The Pope. During the 14th century, the Plantagenets and the House of Valois claimed to be legitimate claimants to the House of Capet and of France; the two powers clashed in the Hundred Years' War . The Black Death epidemic hit England ; starting in 1348, it eventually killed up to half of England's inhabitants . Between 1453 and 1487, a civil war known as the War of the Roses waged between
9159-685: The Royal Society and other English initiatives combined with the Scottish Enlightenment to create innovations in science and engineering, while the enormous growth in British overseas trade protected by the Royal Navy paved the way for the establishment of the British Empire . Domestically it drove the Industrial Revolution , a period of profound change in the socioeconomic and cultural conditions of England, resulting in industrialised agriculture, manufacture, engineering and mining, as well as new and pioneering road, rail and water networks to facilitate their expansion and development. The opening of Northwest England's Bridgewater Canal in 1761 ushered in
9288-457: The Treasury , is the primary regulator of the fiduciary activities of federal savings associations . When a court desires to hold the offending party to a transaction responsible so as to prevent unjust enrichment, the judge can declare that a fiduciary relation exists between the parties, as though the offender were in fact a trustee for the partner. Relationships which routinely attract by law
9417-432: The United Kingdom has moved towards devolved governance in Scotland, Wales and Northern Ireland. England and Wales continues to exist as a jurisdiction within the United Kingdom. Devolution has stimulated a greater emphasis on a more English-specific identity and patriotism. There is no devolved English government, but an attempt to create a similar system on a sub-regional basis was rejected by referendum . England
9546-593: The United Kingdom as part of the Allies . Two decades later, in World War II , the United Kingdom was again one of the Allies . Developments in warfare technology saw many cities damaged by air-raids during the Blitz . Following the war, the British Empire experienced rapid decolonisation , and there was a speeding-up of technological innovations; automobiles became the primary means of transport and Frank Whittle 's development of
9675-399: The United States or Canada . In Australia, it has been found that there is no comprehensive list of criteria by which to establish a fiduciary relationship. Courts have so far refused to define the concept of a fiduciary, instead preferring to develop the law on a case-by-case basis and by way of analogy. Fiduciary relationships are of different types and carry different obligations so that
9804-402: The appropriate circumstances arise. These are usually circumstances where the contract specifies a degree of trust and loyalty or it can be inferred by the court. Australian courts also do not recognise parents and their children to be in fiduciary relationships. In contrast, the Supreme Court of Canada allowed a child to sue her father for damages for breach of his fiduciary duties, opening
9933-563: The area, the Beaker culture people made bronze , and later iron from iron ores. The development of iron smelting allowed the construction of better ploughs , advancing agriculture (for instance, with Celtic fields ), as well as the production of more effective weapons. During the Iron Age , Celtic culture , deriving from the Hallstatt and La Tène cultures , arrived from Central Europe. Brythonic
10062-527: The artistic and societal inheritance bequeathed by the composer and director of the Gewandhaus Orchestra ( "Gewandhauskapellmeister" ), Felix Mendelssohn (1809–1847). In addition, the foundation is required to encourage musical training and education in a manner consistent with the priorities of the composer who founded in Leipzig Germany's first music conservatory , which today bears his name as
10191-737: The auspices of James VI and I the Authorised King James Version of the Holy Bible was published in 1611. It was the standard version of the Bible read by most Protestant Christians for four hundred years until modern revisions were produced in the 20th century. Based on conflicting political, religious and social positions, the English Civil War was fought between the supporters of Parliament and those of King Charles I , known colloquially as Roundheads and Cavaliers respectively. This
10320-454: The care that a reasonably prudent person in a similar position would use under similar circumstances. Control persons fail to act in good faith, even if their actions are not illegal, when they take actions for improper purposes or, in certain circumstances, when their actions have grossly inequitable results. The duty to act in good faith is an obligation not only to make decisions free from self-interest, but also free of any interest that diverts
10449-576: The conquered territories by Anglo-Saxon paganism , but was reintroduced by missionaries from Rome led by Augustine from 597. Disputes between the Roman- and Celtic-dominated forms of Christianity ended in victory for the Roman tradition at the Council of Whitby (664), which was ostensibly about tonsures (clerical haircuts) and the date of Easter, but more significantly, about the differences in Roman and Celtic forms of authority, theology, and practice. During
10578-531: The conquest of this united kingdom by Sweyn Forkbeard in 1013 and again by his son Cnut in 1016, turning it into the centre of a short-lived North Sea Empire that also included Denmark and Norway . However, the native royal dynasty was restored with the accession of Edward the Confessor in 1042. A dispute over the succession to Edward led to an unsuccessful Norwegian Invasion in September 1066 close to York in
10707-410: The consequences of his deviation from his duty? The law expressed here follows the general body of elementary fiduciary law found in most common law jurisdictions; for in-depth analysis of particular jurisdictional idiosyncrasies please consult primary authorities within the relevant jurisdiction. This is especially true in the area of Labor and Employment law. In Canada a fiduciary has obligations to
10836-495: The control persons from acting in the best interest of the company. The duty to act in good faith may be measured by an individual's particular knowledge and expertise. The higher the level of expertise, the more accountable that person will be (e.g., a finance expert may be held to a more exacting standard than others in accepting a third party valuation). At one time, courts seemed to view the duty of good faith as an independent obligation. However, more recently, courts have treated
10965-405: The corporation, which contains two component duties — (2) a duty to protect shareholder interests from harm, and (3) a procedural duty of "fair treatment" for relevant stakeholder interests. This tripartite structure encapsulates the duty of directors to act in the "best interests of the corporation, viewed as a good corporate citizen". The most common circumstance where a fiduciary duty will arise
11094-449: The course of the fifth and sixth centuries, initially in the eastern part of the country. Their advance was contained for some decades after the Britons' victory at the Battle of Mount Badon , but subsequently resumed, overrunning the fertile lowlands of Britain and reducing the area under Brittonic control to a series of separate enclaves in the more rugged country to the west by the end of
11223-535: The door in Canada for allowing fiduciary obligations between parent and child to be recognised. Australian courts have also not accepted doctor-patient relationships as fiduciary in nature. In Breen v Williams , the High Court viewed the doctor's responsibilities over their patients as lacking the representative capacity of the trustee in fiduciary relationships. Moreover, the existence of remedies in contract and tort made
11352-516: The duty of good faith as a component of the duty of loyalty. In Canada, directors of corporations owe a fiduciary duty. A debate exists as to the nature and extent of this duty following a controversial landmark judgment from the Supreme Court of Canada in BCE Inc. v. 1976 Debentureholders . Scholarly literature has defined this as a "tripartite fiduciary duty", composed of (1) an overarching duty to
11481-619: The early 2010s England was divided for a few purposes into regions; a 1998 referendum for the London Region created the London Assembly two years later. A failed 2004 North East England devolution referendum cancelled further regional assembly devolution with the regional structure outside London abolished. Ceremonially and administratively, the region is divided between the City of London and Greater London ; these are further divided into
11610-432: The emancipation of children, in connection with testamentary gifts and in pledges. Under Roman law a woman could arrange a fictitious sale called a fiduciary coemption in order to change her guardian or gain legal capacity to make a will. In Roman Dutch law , a fiduciary heir may receive property subject to passing it to another on fulfilment of certain conditions; the gift is called a fideicommissum . The fiduciary of
11739-574: The employer even after the employment relationship is terminated, whereas in the United States the employment and fiduciary relationships terminate together. The corporate law of Delaware is the most influential in the United States, as more than 50% of publicly traded companies in the United States, including 64% of the Fortune 500, have chosen to incorporate in that state. Under Delaware law, officers, directors and other control persons of corporations and other entities owe three primary fiduciary duties, (1)
11868-580: The employment relationship is not regarded as fiduciary, but may be so if ... within a particular contractual relationship there are specific contractual obligations which the employee has undertaken which have placed him in a situation where equity imposes these rigorous duties in addition to the contractual obligations. Although terminologies like duty of good faith, or loyalty, or the mutual duty of trust and confidence are frequently used to describe employment relationships, such concepts usually denote situations where "a party merely has to take into consideration
11997-420: The equitable principles, or maxims, equity serves those with clean hands. Therefore, the bribe is held on constructive trust for the principal, the only innocent party. Bribes were initially considered not to be held on constructive trust, but were considered to be held as a debt by the fiduciary to the principal. This approach has been overruled; the bribe is now classified as a constructive trust. The change
12126-482: The fiduciary duty. Therefore, a court will find that X has breached his fiduciary duty. The judicial remedy here will be that X holds both the contract and the money in a constructive trust for the duo. Note, X will not be punished or totally denied of the benefit; both X and Y will receive a half share in the contract and the money. When T. Boone Pickens 's Mesa Petroleum attempted to take over Cities Service in 1982, Cities Service attempted to take over
12255-461: The fiduciary relation is an important concept within a part of the legal system known as equity . In the United Kingdom, the Judicature Acts merged the courts of equity (historically based in England's Court of Chancery ) with the courts of common law, and as a result the concept of fiduciary duty also became applicable in common law courts. When a fiduciary duty is imposed, equity requires
12384-433: The gaps. The question of who is a fiduciary is a "notoriously intractable" question and this was the first of many questions. In SEC v. Chenery Corporation , Frankfurter J said, To say that a man is a fiduciary only begins the analysis; it gives direction to further inquiry. To whom is he a fiduciary? What obligations does he owe as a fiduciary? In what respect has he failed to discharge these obligations? And what are
12513-531: The hierarchy, which must follow its directions. The Secretary of State for Justice is the minister responsible to Parliament for the judiciary , the court system and prisons and probation in England. Crime increased between 1981 and 1995 but fell by 42% in the period 1995–2006. The prison population doubled over the same period, giving it one of the highest incarceration rates in Western Europe at 147 per 100,000. His Majesty's Prison Service , reporting to
12642-409: The information and conclusions provided to them. Under normal circumstances, their actions are accorded the protection of the business judgment rule, which presumes that control persons acted properly, provided that they act on an informed basis, in good faith and in the honest belief that the action taken was in the best interests of the company. The duty of loyalty requires control persons to look to
12771-487: The interests of another, but does not have to act in the interests of that other. If fiduciary relationships are to arise between employers and employees, it is necessary to ascertain that the employee has placed himself in a position where he must act solely in the interests of his employer. In the case of Canadian Aero Service Ltd v O'Malley , it was held that a senior employee is much more likely to be found to owe fiduciary duties towards his employer. A protector of
12900-494: The interests of the company and its other owners and not to their personal interests. In general, they cannot use their positions of trust, confidence and inside knowledge to further their own private interests or approve an action that will provide them with a personal benefit (such as continued employment) that does not primarily benefit the company or its other owners. The duty of good faith requires control persons to exercise care and prudence in making business decisions—that is,
13029-418: The interests, which is not acceptable to equity. Therefore, the conflict of duty and duty rule is really an extension of the conflict of interest and duty rules. A fiduciary must not profit from the fiduciary position. This includes any benefits or profits which, although unrelated to the fiduciary position, came about because of an opportunity that the fiduciary position afforded. It is unnecessary that
13158-453: The metropolitan counties have different types of status to other ceremonial counties. The second tier is made up of combined authorities and the 27 county-tier shire counties . In 1974, all ceremonial counties were two-tier; and with the metropolitan county tier phased out, the 1996 reform separated the ceremonial county and the administrative county tier. England is also divided into local government districts. The district can align to
13287-680: The mid-to-late 17th century, two political factions had emerged – the Tories and Whigs . Though the Tories initially supported Catholic king James II , some of them, along with the Whigs, during the Revolution of 1688 invited the Dutch Prince William of Orange to defeat James and become the king. Some English people, especially in the north, were Jacobites and continued to support James and his sons. Under
13416-558: The monastic community and monastic leaders were more like chieftains, as peers, rather than in the more hierarchical system of the Roman-dominated church. Roman military withdrawals left Britain open to invasion by pagan, seafaring warriors from north-western continental Europe, chiefly the Saxons, Angles , Jutes and Frisians who had long raided the coasts of the Roman province. These groups then began to settle in increasing numbers over
13545-591: The nation, many by Natural England themselves, but also by non-governmental organisations, including the members of The Wildlife Trusts partnership, the National Trust , and the Royal Society for the Protection of Birds . There are 221 NNRs in England covering 110,000 hectares (1,100 square kilometres). Often they contain rare species or nationally important populations of plants and animals. . The Environment Agency
13674-621: The north and Wales to the west, and is otherwise surrounded by the North Sea to the east, the English Channel to the south, the Celtic Sea to the south-west, and the Irish Sea to the west. Continental Europe lies to the south-east, and Ireland to the west. At the 2021 census , the population was 56,490,048. London is both the largest city and the capital . The area now called England
13803-594: The north and west of the country. The northern uplands include the Pennines , a chain of uplands dividing east and west, the Lake District mountains in Cumbria, and the Cheviot Hills , straddling the border between England and Scotland. The highest point in England, at 978 metres (3,209 ft), is Scafell Pike in the Lake District. The Shropshire Hills are near Wales while Dartmoor and Exmoor are two upland areas in
13932-545: The person to whom he owes the duty (the " principal ") such that there must be no conflict of duty between fiduciary and principal, and the fiduciary must not profit from their position as a fiduciary, unless the principal consents. The nature of fiduciary obligations differs among jurisdictions. In Australia, only proscriptive or negative fiduciary obligations are recognised, whereas in Canada, fiduciaries can come under both proscriptive (negative) and prescriptive (positive) fiduciary obligations. In English common law ,
14061-553: The possession of the fiduciary, despite bankruptcy, until such time as the principal recovers it. England – in Europe (green & dark grey) – in the United Kingdom (green) England is a country that is part of the United Kingdom . It is located on the island of Great Britain , of which it covers about 62%, and more than 100 smaller adjacent islands . It has land borders with Scotland to
14190-413: The principal would have been unable to make the profit; if the fiduciary makes a profit, by virtue of his role as fiduciary for the principal, then the fiduciary must report the profit to the principal. If the principal provides fully informed consent , then the fiduciary may keep the benefit and be absolved of any liability for what would be a breach of fiduciary duty. If this requirement is not met then
14319-463: The property is deemed by the court to be held by the fiduciary on constructive trust for the principal. Secret commissions, or bribes , also come under the no profit rule. The bribe shall be held in constructive trust for the principal. The person who made the bribe cannot recover it, since he has committed a crime . Similarly, the fiduciary, who received the bribe, has committed a crime. Fiduciary duties are an aspect of equity and, in accordance with
14448-702: The restructured foundation was drawn up on 28 November 2011, and the city's financial and legal participation was agreed at a council meeting on 18 July 2012. The Mendelssohn House and the Mendelssohn Museum, together with the museum site at Goldschmidtstraße 12, were brought into the foundation. Acceptance of the new arrangements by the German Foundations Supervisory authority [ de ] followed on 28 August 2012. According to its constitution, The foundation objectives are focused, in particular, on international research and nurture concerning
14577-518: The rule, sometimes known as the 'fiduciary rule'. The rule would require "brokers offering retirement investment advice to put their clients' interest first". The Trump administration later rescinded the fiduciary rule on July 20, 2018. Prior to its repeal, the rule was also dealt blows by the US Fifth Circuit Court of Appeals in March and June 2018. For example, two members, X and Y , of
14706-450: The settlement period the lands ruled by the incomers seem to have been fragmented into numerous tribal territories, but by the 7th century, when substantial evidence of the situation again becomes available, these had coalesced into roughly a dozen kingdoms including Northumbria , Mercia , Wessex , East Anglia , Essex , Kent and Sussex . Over the following centuries, this process of political consolidation continued. The 7th century saw
14835-472: The signing of Magna Carta , an English legal charter used to limit the sovereign's powers by law and protect the privileges of freemen. Catholic monasticism flourished, providing philosophers, and the universities of Oxford and Cambridge were founded with royal patronage. The Principality of Wales became a Plantagenet fief during the 13th century and the Lordship of Ireland was given to the English monarchy by
14964-408: The smaller Mesa instead. Pickens was friends with Alan Habacht of Weiss, Peck & Greer , who supported Mesa's attempt. Fiduciary duty, however, required Habacht to seek the maximum possible return on the investment he managed by offering Weiss's Mesa shares to Cities's tender offer . A fiduciary, such as the administrator, executor or guardian of an estate, may be legally required to file with
15093-629: The south-west of the country. The approximate dividing line between terrain types is often indicated by the Tees–Exe line . The Pennines, known as the "backbone of England", are the oldest range of mountains in the country, originating from the end of the Paleozoic Era around 300 million years ago. Their geological composition includes, among others, sandstone and limestone , and also coal. There are karst landscapes in calcite areas such as parts of Yorkshire and Derbyshire . The Pennine landscape
15222-537: The standing of the British military and navy – was prestigious. Technologically, this era saw many innovations that proved key to the United Kingdom's power and prosperity. Political agitation at home from radicals such as the Chartists and the suffragettes enabled legislative reform and universal suffrage . Power shifts in east-central Europe led to World War I; hundreds of thousands of English soldiers died fighting for
15351-487: The threat: Spain launched two further armadas, in 1596 and 1597 , but both were driven back by storms. The political structure of the island changed in 1603, when the King of Scots , James VI , a kingdom which had been a long-time rival to English interests, inherited the throne of England as James I, thereby creating a personal union . He styled himself King of Great Britain , although this had no basis in English law. Under
15480-774: The two branches of the royal family, the Yorkists and Lancastrians . Eventually it led to the Yorkists losing the throne entirely to a Welsh noble family the Tudors , a branch of the Lancastrians headed by Henry Tudor who invaded with Welsh and Breton mercenaries, gaining victory at the Battle of Bosworth Field where the Yorkist king Richard III was killed. During the Tudor period , England began to develop naval skills , and exploration intensified in
15609-530: The warming of the sea by the Gulf Stream . Rainfall is higher in the west, and parts of the Lake District receive more rain than anywhere else in the country. Since weather records began, the highest temperature recorded was 40.3 °C (104.5 °F) on 19 July 2022 at Coningsby , Lincolnshire , while the lowest was −26.1 °C (−15.0 °F) on 10 January 1982 in Edgmond , Shropshire. The fauna of England
15738-536: The world's first industrialised nation. England is home to the two oldest universities in the English-speaking world: the University of Oxford , founded in 1096, and the University of Cambridge , founded in 1209. Both universities are ranked among the most prestigious in the world. England's terrain chiefly consists of low hills and plains , especially in the centre and south . Upland and mountainous terrain
15867-563: Was an interwoven part of the wider multifaceted Wars of the Three Kingdoms , involving Scotland and Ireland . The Parliamentarians were victorious, Charles I was executed and the kingdom replaced by the Commonwealth . Leader of the Parliament forces, Oliver Cromwell declared himself Lord Protector in 1653; a period of personal rule followed. After Cromwell's death and the resignation of his son Richard as Lord Protector, Charles II
15996-494: Was established with the Bill of Rights in 1689. Among the statutes set down were that the law could only be made by Parliament and could not be suspended by the King, also that the King could not impose taxes or raise an army without the prior approval of Parliament. Also since that time, no British monarch has entered the House of Commons when it is sitting, which is annually commemorated at
16125-487: Was first inhabited by modern humans during the Upper Paleolithic . It takes its name from the Angles , a Germanic tribe who settled during the 5th and 6th centuries. England became a unified state in the 10th century and has had extensive cultural and legal impact on the wider world since the Age of Discovery , which began during the 15th century. The Kingdom of England , which included Wales after 1535, ceased to be
16254-567: Was invited to return as monarch in 1660, in a move called the Restoration . With the reopening of theatres, fine arts, literature and performing arts flourished throughout the Restoration of the "Merry Monarch" Charles II. After the Glorious Revolution of 1688, it was constitutionally established that King and Parliament should rule together, though Parliament would have the real power. This
16383-572: Was lower than the present day and Britain was connected by land bridge to Ireland and Eurasia . As the seas rose, it was separated from Ireland 10,000 years ago and from Eurasia two millennia later. The Beaker culture arrived around 2,500 BC, introducing drinking and food vessels constructed from clay, as well as vessels used as reduction pots to smelt copper ores. It was during this time that major Neolithic monuments such as Stonehenge (phase III) and Avebury were constructed. By heating together tin and copper, which were in abundance in
16512-616: Was subsequently proclaimed emperor a century later. There is debate about when Christianity was first introduced; it was no later than the 4th century, probably much earlier. According to Bede , missionaries were sent from Rome by Eleutherius at the request of the chieftain Lucius of Britain in 180 AD, to settle differences as to Eastern and Western ceremonials, which were disturbing the church. There are traditions linked to Glastonbury claiming an introduction through Joseph of Arimathea , while others claim through Lucius of Britain. By 410, during
16641-506: Was the spoken language during this time. Society was tribal; according to Ptolemy 's Geographia there were around 20 tribes in the area. Like other regions on the edge of the Empire, Britain had long enjoyed trading links with the Romans. Julius Caesar of the Roman Republic attempted to invade twice in 55 BC; although largely unsuccessful, he managed to set up a client king from
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