Fiduciary – someone owes to another the duties of good faith, loyalty, due care, & disclosure in managing another’s money or property

fiduciary:

1. Someone who is required to act for the benefit of another person on all matters within the scope of their relationship; one who owes to another the duties of good faith, loyalty, due care, & disclosure.

2. Someone who must exercise a high standard of care in managing another’s money or property.

     Excerpt from D.W.M. Waters, The Constructive Trust; The Case for a New Approach in English Law:

    “The term ‘fiduciary’ is so vague that plaintiffs have been able to claim that fiduciary obligations have been breached when in fact the particular defendant was not a fiduciary stricto sensu but simply had withheld property form the plaintiff in an unconscionable manner.

References:

Disclaimer: All material throughout this website is pertinent to people everywhere, and is being utilized in accordance with Fair Use.

[1] Black’s Law Dictionary Deluxe Tenth Edition by Henry Campbell Black & Editor in Chief Bryan A. Garner. ISBN: 978-0-314-62130-6

[2]: D.W.M. Waters, The Constructive Trust; The Case for a New Approach in English Law

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