fiduciary relationship

Definition of "fiduciary relationship"
  1. A bond of trust where one person relies on another, who is duty-bound to act in the relying person's best interest. The person acting may have better knowledge or training
How to use "fiduciary relationship" in a sentence
  1. The patient-doctor bond is a typical example of a fiduciary relationship.
  2. A lawyer legally enters into a fiduciary relationship with every client.
  3. In a fiduciary relationship, the trustee manages the assets for the benefit of the beneficiary.

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