Fiduciary duty

Definition
: a duty obligating a fiduciary (as an agent or trustee) to act with loyalty and honesty and in a manner consistent with the best interests of the beneficiary of the fiduciary relationship (as a principal or trust beneficiary)
3  : See also tax
esp
: a tax on imports
: not engaged in a duty <a police officer who is off duty>
: engaged in a duty



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Based on Merriam-Webster's Dictionary of Law ©2001.
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