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Simple English definitions for legal terms

fiduciary contract

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A quick definition of fiduciary contract:

A fiduciary contract is an agreement between two parties where one party gives something to the other party with the condition that the second party will return it to the first party. It's like borrowing something from a friend and promising to give it back.

A more thorough explanation:

A fiduciary contract is an agreement between two parties where one party entrusts something to the other party with the condition that it will be returned to the first party.

For example, if a person hires a financial advisor to manage their investments, they are entering into a fiduciary contract. The financial advisor is entrusted with the responsibility of managing the investments in the best interest of the client and returning the profits to the client.

Another example of a fiduciary contract is when a person hires a lawyer to represent them in a legal matter. The lawyer is entrusted with the responsibility of representing the client's interests and returning any settlements or damages awarded to the client.

These examples illustrate the definition of a fiduciary contract because in both cases, one party is entrusting something valuable to another party with the expectation that it will be returned to them. The second party is obligated to act in the best interest of the first party and return any profits or damages to them.

fiduciarius tutor | fiduciary debt

General

General chat about the legal profession.

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EvolBunny

11:12

Fuck dem hoes

Mostlylegal

11:13

Child bearing people*

Mostlylegal

11:13

i cant spell fuck dont correct me

EvolBunny

11:15

Anywayyyyy, i think today i will withdraw all my apps

EvolBunny

11:15

This lsat is not doing it

babycat

11:15

lol live ur truth

Mostlylegal

11:15

ASU at 154 is damn good

Mostlylegal

11:15

154 scholly

BulbasaurNoLikeCardio

11:15

It is shitty that was a pattern of behavior but I am glad someone is finally standing up for themselves. Like I can be a pretty rigid butthole guy when it comes to getting stuff but a complete lack of empathy or situational awareness shown by the school and their staff is mind blowing. When I was talking about it in the office they all thought I was lying cause it sounds so crazy.

Dkk

11:16

@babycat: ahh link me something. Idk what you are talking about with GTown and mothers and all that.

renard99

11:16

Idk if any of you watch UFC but one time interim heavyweight champ Tom Aspinall won a fight and said on the mic afterwards “if you feel scared to do something, that’s a pretty good sign you should just go fucking do it” and I believe that applies very much to people wondering if they should R&R. Sure you can but why not just see what happens now?

babycat

11:16

School fucked up so bad they got hellwoods to sign a petition

Mostlylegal

11:16

Ive also heard their career center is awful too, I think its why it will never be anything but 14-15

JumpySubsequentDolphin

11:17

@Dkk: i think a law student was pregnant and due to give birth a few days before finals and they refused to accomodate her

babycat

11:17

@Dkk: https://www.reddit.com/r/LawSchool/s/52TFGp7T5k

JumpySubsequentDolphin

11:17

accommodate*

EvolBunny

11:17

@Mostlylegal: yeah and i was thinking fuck it just go party for three years but i got other options and need to start building, top law schools were worth that 3 year pause but i am not sure i can do that for asu and their outcomes

Mostlylegal

11:19

Also I just got diagnosed with ADHD is it stupid if I dont take the test again now that Im medicated?

Dkk

11:19

She offered to take it early? Should have given her that one. Remote I can understand saying no to but taking it early, yes.

babycat

11:20

big things coming for babycat. I own a resistance band now

concorde

11:20

@renard99: jones needs to take this advice and fight aspinall

Mostlylegal

11:21

is that what they are calling punk rock bands these days?

BulbasaurNoLikeCardio

11:21

@babycat: did you get a booboo or just trying to do more workouts at home?

azebra88

11:21

@Mostlylegal: I jumped six points after beginning adhd meds. Might be worth it

Dkk

11:22

Just an hour and 38 minutes left before I can ask Kayle in LSAT Demon to marry me. I take these AMA's seriously.

renard99

11:22

@concorde: “I will retire Jon Jones without even fighting him” hardest thing anyone in the UFC ever said

m10

11:23

i spelled her fucking name wrong lmfao, Kaley. Lmfao.

BulbasaurNoLikeCardio

11:24

It was years ago but it was a lower card fight, dude didn't speak good english and they tried asking him his plan, he was like "punch him" they tried to get more info pushing it again and he said "punch him hard" and pointed at his forehead.... I don't remember the results of the fight but dude had a solid plan.

babycat

11:24

@BulbasaurNoLikeCardio: no booboo I’m just trying to increase flexibility a little. I feel like if u develop too much muscle on ur legs and don’t stretch they get tight

JumpySubsequentDolphin

11:26

my hips are so tight its acc miserable

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