Logourl black
From our private database of 14,200+ case briefs...

Marriage of Duffy

Court of Appeal of California
91 Cal. App. 4th 923 (2001)


Facts

Vincent (defendant) and Patricia (plaintiff) Duffy were married in 1962. In 1983, Vincent left his employment with MCA Records. Vincent received a severance package, including cash from a profit-sharing plan and 3,901 shares of MCA stock. Vincent deposited the cash into an Individual Retirement Account (IRA). Patricia was present for this deposit. Vincent subsequently opened an IRA brokerage account and sold the MCA stock. Over the course of several years, Vincent engaged in stock purchases and sales without consulting Patricia. During this time, several brokerage-account statements came to the family residence, and Patricia saw these statements. Patricia noticed that the MCA stock was not listed on the statements, but Patricia never asked Vincent about the MCA stocks. In 1997, Vincent and Patricia separated. At trial, Patricia testified that she participated in, attended, or had information regarding purchases of real estate, brokerage accounts, and other ventures involving community property. Patricia claimed, however, that when she asked Vincent about financial matters, he was dismissive or gave her short answers. Expert testimony at trial indicated that Vincent’s investments were too risky. The trial court found that Vincent breached his fiduciary duty to Patricia. Vincent appealed the trial court’s ruling.

Rule of Law

Issue

Holding and Reasoning (Spencer, J.)

What to do next…

  1. Unlock this case brief with a free (no-commitment) trial membership of Quimbee.

    You’ll be in good company: Quimbee is one of the most widely used and trusted sites for law students, serving more than 97,000 law students since 2011. Some law schools—such as Yale, Vanderbilt, Berkeley, and the University of Illinois—even subscribe directly to Quimbee for all their law students. Read our student testimonials.

  2. Learn more about Quimbee’s unique (and proven) approach to achieving great grades at law school.

    Quimbee is a company hell-bent on one thing: helping you get an “A” in every course you take in law school, so you can graduate at the top of your class and get a high-paying law job. We’re not just a study aid for law students; we’re the study aid for law students. Read more about Quimbee.

Here's why 252,000 law students have relied on our case briefs:

  • Written by law professors and practitioners, not other law students. 14,200 briefs, keyed to 189 casebooks. Top-notch customer support.
  • The right amount of information, includes the facts, issues, rule of law, holding and reasoning, and any concurrences and dissents.
  • Access in your classes, works on your mobile and tablet. Massive library of related video lessons and high quality multiple-choice questions.
  • Easy to use, uniform format for every case brief. Written in plain English, not in legalese. Our briefs summarize and simplify; they don’t just repeat the court’s language.