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The Court of Chancery, which governed fiduciary relations in England prior to the Judicature Acts. A fiduciary is a person who holds a legal or ethical relationship of trust with one or more other parties (person or group of persons). Typically, a fiduciary prudently takes care of money or other assets for another person. One party, for example ...
A fiduciary is an individual or entity that acts on behalf of another person or group. Whether they are financial advisors, lawyers, trustees and more, fiduciaries assume a legal and ethical ...
The law of agency is an area of commercial law dealing with a set of contractual, quasi-contractual and non-contractual fiduciary relationships that involve a person, called the agent, who is authorized to act on behalf of another (called the principal) to create legal relations with a third party. [1]
Generally, promoters are in a fiduciary relationship with the company and its investors and shareholders, and must avoid conflicts of interests and exercise reasonable care in performing their duties. They must refrain from self-dealing or other types of abuse to take advantage of their position as a promoter.
Fiduciary and financial advisor are related terms, but they are not synonymous. Some fiduciaries are financial advisors, but the term also includes individuals who do not work in finance.
For example, let’s say a customer of a deposit broker is assured by the guardian (fiduciary) that he or she will earn 5% on a deposit when the IDI is paying only 3%. The guardian would not be a ...
The duty of loyalty is often called the cardinal principle of fiduciary relationships, but is particularly strict in the law of trusts. [1] In that context, the term refers to a trustee's duty to administer the trust solely in the interest of the beneficiaries, and following the terms of the trust.
A fiduciary trust is a fiduciary relationship in which a trustee holds the title to assets for the beneficiary. The trust's creator is called the grantor and a fiduciary trust is structured under trust law .