Fiduciary Duty
type: Class
alternative label: Trust Duty
alternative label: Trustee Duty
subclass of: RlNFgB3TQfMzV26V4V7u4E
definition: Fiduciary duty is a legal obligation requiring one party, the fiduciary, to act in the best interest of another party, typically a beneficiary or principal, with loyalty and care. This duty is paramount in relationships involving trust and confidence, such as those between trustees and beneficiaries, corporate directors and shareholders, or financial advisors and clients.