Breach of Fiduciary Duty Law and Legal Definition | USLegal, Inc.
OverviewWhen someone has a fiduciary duty to someone else, the person with the duty must act in a way that will benefit someone else, usually financially. A fiduciary duty is an obligation to act in the best interest of another party. For instance, a corporation's board member has a fiduciary duty to the shareholders, . Legal definition of fiduciary relationship: a relationship in which one party places special trust, confidence, and reliance in and is influenced by another who has.
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