Legal Dictionary of Pakistan
Quick lookup for English, Urdu, and Latin legal terms used in Pakistani jurisprudence.
Fiduciary
n. 1. One who owes to another the duties of good faith, trust, confidence, and candor <the corporate officer is a fiduciary to the shareholders>. 2. One who must exercise a high standard of care in managing another's money or property <the beneficiary sued the fiduciary for investing in speculative securities>. -fiduciary, adj. "'Fiduciary' is a vague term, and it has been pressed into service for a number of ends My view is that the term 'fiduciary' is so vague that plaintiffs have been able to claim that fiduciary obligations have been breached when in fact the particular defendant was not a fiduciary stricto sensu but simply had withheld property from the plaintiff in an unconscionable manner." D.W.M. Waters, The Constructive Trust 4 (1964).
dilatory fiduciary
A trustee or other fiduciary who causes undue delays in administering an estate.
dilatory fiduciary.
See FIDUCIARY,
fiduciary bond
See BOND (2).
fiduciary bond.
A type of surety bond required of a trustee, administrator, executor, guardian, conservator, or other fiduciary to ensure the proper performance of duties.
fiduciary contract
Hist. An agreement by which one party delivers something to another on condition that the second party will return the thing to the first.
fiduciary debt
A debt founded on or arising from a fiduciary relationship, rather than from a contractual relationship. fiduciary duty. See DUTY (2).
fiduciary duty
A duty of utmost good faith, trust, confidence, and candor owed by a fiduciary (such as a lawyer or corporate officer) to the beneficiary (such as a lawyer's client or a shareholder); a duty to act with the highest degree of honesty and loyalty toward another person and in the best interests of the other person (such as the duty that one partner owes to another). See FIDUCIARY; FIDUCIARY RELATIONSHIP.
fiduciary relationship
A relationship in which one person is under a duty to act for the benefit of the other on matters within the scope of the relationship. ( Fiduciary relationships - such as trustee-beneficiary, guardianward, agent-principal, and attorney-client -require the highest duty of care. Fiduciary relationships usu. arise in one of four situations: (1) when one person places trust in the faithful integrity of another, who as a result gains superiority or influence over the first, (2) when one person assumes control and responsibility over another, (3) when one person has a duty to act for or give advice to another on matters falling within the scope of the relationship, or (4) when there is a specific relationship that has traditionally been recognized as involving fiduciary duties, as with a lawyer and a client or a stockbroker and a customer. - Also termed fiduciary relation; confidential relationship. Cf. SPECIAL RELATIONSHIP.
fiduciary-shield doctrine
Corporations. The principle that a corporate officer's act cannot be the basis for jurisdiction over the officer in an individual capacity.
successor fiduciary
A fiduciary who is appointed to succeed or replace a prior one.
temporary fiduciary
An interim fiduciary appointed by the court until a regular fiduciary can be appointed.