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LSDefine

Simple English definitions for legal terms

fiduciary relationship

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A quick definition of fiduciary relationship:

A fiduciary relationship is when one person has a duty to act in the best interest of another person. This can happen in different situations, like when someone is an agent for someone else. Even if the parties didn't mean to create a fiduciary relationship, their actions can show that they did. The relationship ends when the parties don't want it anymore, but the agent can still create obligations for the principal with other people until the relationship is officially over.

A more thorough explanation:

A fiduciary relationship is a type of relationship where one person has a duty to act in the best interest of another person. This duty is called a fiduciary duty. The relationship can be created in different ways, and it doesn't always depend on the parties' intentions.

For example, when someone hires an agent to do something for them, like sell their house, the agent has a fiduciary duty to act in the best interest of the person who hired them. This means the agent can't do anything that would harm the person who hired them, like selling the house for less than it's worth.

Another example is when a doctor treats a patient. The doctor has a fiduciary duty to act in the best interest of the patient, which means they can't do anything that would harm the patient, like prescribing the wrong medication.

It's important to note that the fiduciary relationship can end if the parties no longer intend to maintain it. However, the agent may still have some obligations to third parties that were created during the relationship.

fiduciary duty | field sobriety test

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THATS SO FUNNY
i cant i would go crazy
JumpySubsequentDolphin
20:50
i need to know who decided to do that.
JumpySubsequentDolphin
20:50
omg im on a plane weeeee
the devil
youre on a plane??? LSD made the mile high club??
20:50
yo splitterus are you in school already
20:50
it says ur c/o 2027
JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
roger dat. see u in heck
im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
just push him off the entire seat
JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
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@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
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