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29 results for: fiduciary

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Dictionary Entries (11 more entries. View all »)
Dictionary.com Unabridged (v 1.1) - Cite This Source
fi·du·ci·ar·y    Audio Help   [fi-doo-shee-er-ee, -dyoo-] Pronunciation Key noun, plural -ar·ies, adjective
–noun
1.Law. a person to whom property or power is entrusted for the benefit of another.
–adjective
2.Law. of or pertaining to the relation between a fiduciary and his or her principal: a fiduciary capacity; a fiduciary duty.
3.of, based on, or in the nature of trust and confidence, as in public affairs: a fiduciary obligation of government employees.
4.depending on public confidence for value or currency, as fiat money.
[Origin: 1585–95; < L fīdūciārius of something held in trust, equiv. to fīdūci(a) trust + -ārius -ary]

—Related forms
fi·du·ci·ar·i·ly, adverb
Dictionary.com Unabridged (v 1.1)
Based on the Random House Unabridged Dictionary, © Random House, Inc. 2006.

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Encyclopedia Articles (16 more entries. View all »)
Columbia Electronic Encyclopedia - Cite This Source

fiduciary, in law, a person who is obliged to discharge faithfully a responsibility of trust toward another. Among the common fiduciary relationships are guardian to ward, parent to child, lawyer to client, corporate director to corporation, trustee to trust, and business partner to business partner. In discharging a trust, the fiduciary must be absolutely open and fair. Certain business methods that would be acceptable between independent parties dealing with one another "at arm's length" may expose a fiduciary to liability for having abused a position of trust. Thus, in an ordinary business transaction the prospective purchaser of land need not inform the seller of an imminent rise in realty values, but one buying land from a partner must disclose such information. In many cases courts will treat an unexplained profit derived from a fiduciary relationship as an instance of constructive fraud.

The Columbia Electronic Encyclopedia Copyright © 2004, Columbia University Press.
Licensed from Columbia University Press


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