Fiduciary Obligation Law and Legal Definition
Fiduciary obligation is the obligation or trust imposed by law on officials of an organization making them liable for the proper use and disbursement of the organization's money, funds and property. It is employees' or directors' legal and moral duty to exercise the powers of their office for the benefit of the employer or the firm. Directors owe the duty of utmost good faith and must not put themselves in a position where their personal interests and their fiduciary duties may conflict.
Legal Definition list
Related Legal Terms
- Alternative Obligation
- Bargaining Obligation Dispute [Administrative Personnel]
- Breach Of Fiduciary Duty
- Civil Causes of Action - Breach of Fiduciary Duty
- Collateralized Mortgage Obligation
- Corporate Fiduciary
- Covered Clearing Obligation
- Covered Contractual Payment Obligation
- Delictal Obligations
- Direct Loan Obligation
