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Related to fiduciary duty: Fiduciary Responsibility

fiduciary (fidoo´shēerē),

n a person who has a duty to act primarily for another's benefit, as a trustee. Also, pertaining to the good faith and confidence involved in such a relationship.
References in periodicals archive ?
Sounds like a pretty big step toward a full-time fiduciary duty, doesn't it?
These instructions address cases in which a breach of fiduciary duty creates a jury issue.
To the maximum extent provided by the LLC Act, the LLC and each member waive any claim against each manager and member of the LLC and their affiliates for breach of fiduciary duty to the LLC or its members, including claims as may result in conflict of interest among the LLC, the managers and the members.
Perhaps the leading California case on the issue of stockbrokers' fiduciary duty can be found in Twomey v.
Although California rejects the automatic imposition of a fiduciary duty on insurance professionals, it has not stated generically that such a duty can never exist.
As I will explain, breach of fiduciary duty has sometimes been called a tort.
The law of fiduciary duty can be divided into the following general categories: 1) express fiduciary duty imposed by statute; 2) fiduciary duty based on an agency relationship; and 3) fiduciary duty based on the special relationship of the parties (e.
After considering the Supreme Court of Canada's discussion of the fiduciary duty of directors in Peoples, the Quebec Superior Court concluded that the ruling in Peoples was "not necessarily incompatible with the application of the Revlon Duty by the BCE Board.
Illinois and Massachusetts courts have held that shareholders of closely held corporations owe a fiduciary duty to one another analogous to the fiduciary duties partners owe one another.
Certainly, any such legislation (or regulations, if that is the route that will be taken) can limit the concept of fiduciary duty to permit continuation of insurance commissions in the traditional manner.
Fiduciary duty is a duty to be trustworthy with other people's money.