Monday, October 13, 2008

Word of the Week #8

Word-fiduciary

Source- Nytime.com

How it was used-I have a fiduciary responsibility to my clients.

Definition- Noun,Law. a person to whom property or power is entrusted for the benefit of another.

Adj. Law. of or pertaining to the relation between a fiduciary and his or her principal: a fiduciary capacity; a fiduciary duty.
Of, based on, or in the nature of trust and confidence, as in public affairs: a fiduciary obligation of government employees.
Depending on public confidence for value or currency, as fiat money.

Sentence- I have a fudicary duty to take care of my house because I own it.

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