Ad
related to: fiduciary powers meaning in business letter
Search results
Results from the WOW.Com Content Network
What does fiduciary duty mean? A fiduciary duty is an ethical or legal relationship of trust between two or more parties. Generally, the fiduciary must act in the best interests of the other party.
The Court of Chancery, which governed fiduciary relations in England prior to the Judicature Acts. A fiduciary is a person who holds a legal or ethical relationship of trust with one or more other parties (person or group of persons). Typically, a fiduciary prudently takes care of money or other assets for another person. One party, for example ...
The corporate opportunity doctrine is the legal principle providing that directors, officers, and controlling shareholders of a corporation must not take for themselves any business opportunity that could benefit the corporation. [1] The corporate opportunity doctrine is one application of the fiduciary duty of loyalty. [2]
The duty of loyalty is often called the cardinal principle of fiduciary relationships, but is particularly strict in the law of trusts. [1] In that context, the term refers to a trustee's duty to administer the trust solely in the interest of the beneficiaries, and following the terms of the trust.
A fiduciary is a term that crosses domains, meaning that it can be used in areas besides finance. For example, lawyers are fiduciaries, as are the directors of a corporation, relative to its ...
For example, you may have a power of attorney that gives you the authority to access a parent’s bank account to pay bills when they are incapacitated. In that situation, you use the money to pay ...
Directors' duties are a series of statutory, common law and equitable obligations owed primarily by members of the board of directors to the corporation that employs them. It is a central part of corporate law and corporate governance.
A fiduciary deposit account is an account that’s owned by one or more persons but managed by another. The owner is known as the principal, while the manager is known as the fiduciary .
Ad
related to: fiduciary powers meaning in business letter