fiduciary duty
4
7.9
- noun
- /fɪˈduːʃiˌɛri ˈdjuːti/
- Formal
- As board members, they must fulfill their fiduciary duty to ensure that the company's assets are protected.
- breach of fiduciary duty
- fiduciary duty to the people
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Watch on YouTubeMoving on from the breach of contract claims, the breach of fiduciary duty claim doesn't hold much water either.
- Moving on from the breach of contract claims, the breach of fiduciary duty claim doesn't hold much water either.
- The AMC share board has the duty, the fiduciary duty to make sure that AMC shareholders are protected.
- And they have a fiduciary duty to use our private information and their expertise to help us.
- Now, in a in a small company, the stockholders owe each other a fiduciary duty, meaning you got to sort of treat everyone with a degree of fairness.
Examples
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The question of breach of fiduciary duty has also arisen in the area of provider incentives.
Academic text (2001) -
For one thing, insolvency shifts a company's fiduciary duty from the shareholders to the creditors.
Academic text (2001) -
And they have a fiduciary duty to use our private information and their expertise to help us.
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I trust you understand the various fiduciary duties we have as a university.
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Shareholders could charge the company with breach of a fiduciary duty, especially if it knew about the security breach but did nothing to correct it.
Academic text (2003) -
And no one seems sure what damages a plaintiff is entitled to under the fiduciary duty approach.
Academic text (2000) -
Breaches of fiduciary duties by senior employees have also been strictly dealt with.
Academic text (1990) -
Is it a violation of the firm's fiduciary duty to a lender to give out employee bonuses?
Blog text (4) -
The AMC share board has the duty, the fiduciary duty to make sure that AMC shareholders are protected.
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Financial advisors have a fiduciary duty to act in their clients' best interests when managing investments.
Synonyms
∞
1.0
Something you must do because of law, your job, or what is right
524
3.2
A duty you feel to do something because it is right or someone helped you
2
4.0
Something a person must do because the law says so
How Binding
- Formal
2
4.0
- Formal
4
7.9
524
3.2
553
2.5
633
2.8
Surface Forms
Morphology
The phrase is a straightforward compositional combination: 'fiduciary' denotes a person entrusted with another's assets or interests and 'duty' denotes an obligation, so together they literally mean the obligation of a fiduciary to act in the other's best interests. While the legal nuances are technical, the core meaning is directly derivable from the constituent words, making it understandable to a learner who knows both terms.
Etymology
Fiduciary duty comes from a word that meant 'trust'. A fiduciary is someone you trust to look after money or property, and a duty is their promise or job to act for that person. So fiduciary duty means the promise to always act in another person's 'best interest'.