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" A fiduciary is someone who has undertaken to act for and on behalf of another in a particular matter in circumstances which give rise to a relationship of trust and confidence.[1] " A fiduciary duty is the highest standard of care at either equity or law. A fiduciary is expected to be extremely loyal to the person to whom they owe the duty (the "principal"): they must not put their personal interests before the duty, and must not profit from their position as a fiduciary, unless the principal consents. The fiduciary relationship is highlighted by good faith, loyalty and trust, and the word itself originally comes from the Latin fides, meaning faith, and fiducia. When a fiduciary duty is imposed, equity requires a stricter standard of behavior than the comparable tortious duty of care at common law. 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 their fiduciary duty conflicts with another fiduciary duty, and a duty not to profit from their fiduciary position without express knowledge and consent. A fiduciary cannot have a conflict of interest. It has been said that fiduciaries must conduct themselves "at a level higher than that trodden by the crowd"[2] and that "[t]he distinguishing or overriding duty of a fiduciary is the obligation of undivided loyalty."[3]
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Fiduciary Duty - 2010 was released on: USA: 29 October 2010 (Manteca, California)
Hamilton firm provides information online about Breach of Fiduciary Duty. There is also information regarding Fiduciary on Wikipedia. The probate will also be useful.
Yes, a city council does have a fiduciary duty to the citizens of the community when it comes to purchasing real property.
There are various kinds of contracts, but in Pennsylvania most contracts have a four year statute of limitations. In addition, aÊfour year statute of limitation also pertains to the sale of goods.
It is not management that has this responsibilty per se, but the owner of an incorporated busines selling stocks. Such businesses MUST make money for their shareholders as part of their fiduciary duty/responsibility.
Not without breaching his fiduciary duty to the estate.
It is an auto insurance specialist's duty to know the local law requirements for minimum automobile insurance and to help choose what plan best fits individual needs. These are often called car insurance agents as well.
A fiduciary is one who owes a duty of good faith, trust, confidence and a high standard of care in managing the property and money of another. An executor or administrator of an estate is a fiduciary. Therefore an estate account is also called a fiduciary account. The short answer to your question is yes.
The duties of a trustee typically include managing trust assets, making decisions in the best interest of the beneficiaries, keeping accurate records, and distributing assets as outlined in the trust agreement. Trustees have a fiduciary duty to act prudently and ethically in carrying out their responsibilities.
Diana Jane Young has written: 'Care, autonomy, and the fiduciary duty'