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fiduciary relation

DEFINITIONS OF: fiduciary relation

1

n the legal relation that exists when one person justifiably places reliance on another whose aid or protection is sought in some matter

Types:
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bank-depositor relation
the responsibility of a bank to act in the best interests of the depositors
confidential adviser-advisee relation
the responsibility of a confidential adviser to act in the best interest of the advisee
conservator-ward relation
the responsibility of a conservator to act in the best interests of the ward
director-stockholder relation
the responsibility of corporate directors to act in the best interests of stockholders
executor-heir relation
the responsibility of an executor (or administrator) of an estate to act in the best interests of the heir
attorney-client relation, lawyer-client relation
the responsibility of a lawyer to act in the best interests of the client
partner relation
the responsibility of partners to act in one another's best interests
receiver-creditor relation
the responsibility of receiver or trustee in bankruptcy to act in the best interests of the creditor
trustee-beneficiary relation
the responsibility of a trustee to act in the best interests of the beneficiary
Type of:
legal relation
a professional relation that is regulated by law (as between a lawyer and a client)
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