ABSTRACT
This chapter examines the expression of those constraints as a standard of care in exercising the power of sale. In the process the Court addressed the broader issue of the mortgagee's obligations to the mortgagor in exercising the power of sale. The chapter shows that whilst Downsview Nominees espouses an inappropriate standard of care, the reinstatement of equity's jurisdiction in the field affords a platform for a more promising argument based on fiduciary obligation. As fiduciary obligations moved outwards from the trust paradigm, they continued to bear the imprint of equity's strict governance of trust and quasi trustee duties. In a relatively development, commercial relationships have been subject to fiduciary obligations even though the engagement may contemplate self-interest in the pursuit of personal gain. The emancipation of fiduciary doctrine from the strictures of trusteeship has furnished modern jurisprudence with a versatile concept.
