ACCOUNTING FOR PROFITS
accounting for profits.An action for equitable relief against a person in a fiduciary
relationship to recover profits taken in a breach of the relationship. — Often shortened to
“The term accounting, or accounting for profits, is used in several ways. In its most important
meaning, it is a restitutionary remedy based upon avoiding unjust enrichment. In this sense it
reaches monies owed by a fiduciary or other wrongdoer, including profits produced by property
which in equity and good conscience belonged to the plaintiff. It resembles a constructive trust in
that tracing may be used to reach profits. But even if tracing fails, the plaintiff may recover a
judgment for the profits due from use of his property.” Dan B. Dobbs, Law of Remedies § 4.3(5),
at 408 (2d ed. 1993). [Blacks Law 8th]