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LSDefine

Simple English definitions for legal terms

fiduciary debt

Read a random definition: privy purse

A quick definition of fiduciary debt:

Term: FIDUCIARY DEBT

Definition: Fiduciary debt is a type of debt that comes from a special relationship between two people or entities. This relationship is based on trust, and one person or entity is responsible for taking care of the other person's money or property. If the person or entity in charge of the money or property does something wrong, they can be held responsible for the debt that is owed.

A more thorough explanation:

Fiduciary Debt

Fiduciary debt is a type of debt that arises from a fiduciary relationship, rather than from a purely contractual relationship.

A fiduciary relationship is one in which one party (the fiduciary) is entrusted with the care of another party's assets or interests. Fiduciary debt arises when the fiduciary incurs debt on behalf of the other party, such as when a trustee takes out a loan to manage a trust's assets.

  • A trustee takes out a loan to invest in a trust's assets.
  • An attorney incurs debt on behalf of a client to pay for legal fees.
  • A financial advisor borrows money to invest in a client's portfolio.

These examples illustrate how fiduciary debt arises from a relationship of trust and responsibility. The fiduciary is obligated to act in the best interests of the other party, and the debt incurred is for the benefit of the other party's assets or interests.

fiduciary contract | fiduciary heir

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21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
WorthlessAttractiveZombie
7:44
My berkeley paragraph finally disappeared. I definitely think it is just an indicator that they are actively reviewing files, and does not mean anything about A, WL, or Rs
WorthlessAttractiveZombie
7:46
Also has anyone's date disappeared for W&L? Mine did last night
7:55
@WorthlessAttractiveZombie: mine did yesterday morning
7:56
Oops sorry I meant Vilanova. Mine disappeared last week
soapy
8:48
UMN under review! As predicted, decisions are gonna come out early December
Minus those random R decisions from UMN yesterday though right? I wonder what happened there. I don’t think I’ve seen a school start the season out with anything but As on here
almost all of my apps have been UR for 6 weeks at this point I feel exhausted waiting for them to finish
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