- fiduciary duties
Directors owe duties to their company based on trustee principles. They must act honestly to protect its assets and not enrich themselves unduly at its expense. If they fail, the company may have a claim against them.
Easyform Glossary of Law Terms. — UK law terms.
- fiduciary duties
Duties owed by a fiduciary to a beneficiary. Examples of fiduciary duties include a duty of confidentiality, a duty of no conflict, and a duty not to profit from his position.USAOne of the highest standards of care imposed by law based on the relationship between the parties (such as director and company). The fiduciary (the director) must show loyalty towards the person or entity to which the duty is owed (the company).See alsoRelated links
Practical Law Dictionary. Glossary of UK, US and international legal terms. www.practicallaw.com. 2010.
Look at other dictionaries:
fiduciary — fi·du·cia·ry 1 /fə dü shə rē, dyü , shē ˌer ē/ n pl ries: one often in a position of authority who obligates himself or herself to act on behalf of another (as in managing money or property) and assumes a duty to act in good faith and with care,… … Law dictionary
fiduciary duty — see duty Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. fiduciary duty n. Th … Law dictionary
fiduciary out — USA An exception to the no shop covenant in a merger agreement. Generally, the board of directors of a public target company is subject to a heightened duty of care in a merger transaction and is charged with obtaining the highest value… … Law dictionary
Fiduciary — One party, for example a corporate trust company or the trust department of a bank, holds a fiduciary relation or acts in a fiduciary capacity to another, such as one whose funds are entrusted to it for investment. In a fiduciary relation one… … Wikipedia
fiduciary — One who must act for the benefit of another party. Bloomberg Financial Dictionary * * * ▪ I. fiduciary fi‧du‧ci‧a‧ry 1 [fɪˈduːʆiəri ǁ eri] noun fiduciaries PLURALFORM 1. [countable] LAW someone who is responsible for the assets of people,… … Financial and business terms
fiduciary — one who is entrusted with duties on behalf of another. The law requires the highest level of good faith, loyalty and diligence of a fiduciary, higher than the common duty of care that we all owe one another. The debtor in possession in a Chapter… … Glossary of Bankruptcy
fiduciary — /fad(y)uwsh(iy)ary/ The term is derived from the Roman law, and means (as a noun) a person holding the character of a trustee, or a character analogous to that of a trustee, in respect to the trust and confidence involved in it and the scrupulous … Black's law dictionary
Fiduciary Certification — The certification process to ensure that fiduciaries uphold the prudent investment guidelines and practices set forth by state regulations. A certified fiduciary needs to fulfill all legal requirements set forth by the designation and adhere to… … Investment dictionary
fiduciary bond — noun : a surety bond filed by a fiduciary (as the administrator of an estate) to guarantee faithful performance of his duties * * * a bond filed by a fiduciary administering an estate as surety. * * * fiduciary bond, a bond issued to insure… … Useful english dictionary
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. Directors duties are… … Wikipedia