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



Search Legal Dictionary


Based on Merriam-Webster's Dictionary of Law ©2001.
Merriam-Webster, Incorporated
Published under license with Merriam-Webster, Incorporated.
http://www.m-w.com
Merriam-Webster