# Fiduciary Duty

**IRI:** https://folio.openlegalstandard.org/RDYMSvTzMQvR5oJWYzguyJW

## Labels

**Alternative Labels:**

- Trust Duty
- Trustee Duty

## 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.

## Sub Class Of

- https://folio.openlegalstandard.org/RlNFgB3TQfMzV26V4V7u4E

## Parent Class Of

- https://folio.openlegalstandard.org/R8Hs98hbvGXbyLnjZcTg1QR
- https://folio.openlegalstandard.org/R8M4n8ddbGziiJynG5reolX

**Deprecated:** False