Concept information
Preferred term
fiduciary duty
Definition
- A fiduciary is a person who has been entrusted with the care of another's property or other valuables and who has a responsibility to exercise discretionary judgment in this capacity solely in the interest of this other person's interest. Common examples of fiduciaries are trustees, guardians, executors, agents, and, in business, directors, officers, and executives of corporations. [Source: Encyclopedia of Business Ethics and Society; Fiduciary Duty]
Broader concept
Belongs to group
URI
https://concepts.sagepub.com/social-science/concept/fiduciary_duty
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