fiduciary relation
- noun
- /fɪˈduːʃiˌɛri rɪˈleɪʃən/
- Formal
:
relación fiduciaria
- In a fiduciary relation, the advisor must always prioritize the client's best interests over their own.
Examples
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Courts have found a fiduciary relation implied in law when confidence is reposed by one party and a trust is accepted by the other.
Blog text (9) -
When a fiduciary relation is established, one party is legally bound to act in the best interest of the other.
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The partnership formed a fiduciary relation, ensuring that both parties acted with mutual trust and loyalty.
Synonyms
A legal relationship where one person must act in another person's best interest
How Trusting
3
3.6
- Formal
18
3.2
3
3.9
Surface Forms
Morphology
If a learner knows 'fiduciary' as meaning based on trust or duty and 'relation' as a connection between parties, the compound simply denotes a relationship characterized by that trust/duty; the legal nuance (obligations to act in another's interest) follows from the adjective. The meaning is thus compositionally derivable from the constituents rather than idiomatic or metaphorical, making it clear to learners who know both words.
Etymology
The legal term fiduciary relation comes from an old word fiduciary that means 'trust'. It paints a picture of one person holding another person's trust and having a duty to act in that person's 'best interest'. That's why the term means a relationship based on trust and duty.