The fair dealing rule requires executors who purchase a beneficiary's interest in an estate to make full disclosure of all material facts, including the existence and value of estate assets such as royalty entitlements; failure to do so constitutes breach of fiduciary duty even where the beneficiary had independent legal advice. Directors of a closely held company do not owe fiduciary duties to individual shareholders merely by reason of the company being closely held; special circumstances including vulnerability, dependence on information, and an undertaking or entitlement to expect loyalty must be established. A broadly worded release in a deed of settlement may bar claims of fraud that were unknown at the time of signing, applying the equitable principle in Grant v John Grant & Sons, where the releaser was aware of the general nature of the claims being released even if not the specific fraud.
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