Explain the term 'fiduciary responsibility’ with the help of an e… - Vidyadip

Question

Explain the term 'fiduciary responsibility’ with the help of an example.

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Answer

Fiduciary responsibility exists with individuals or businesses who handle money or property for others. The term 'fiduciary refers to a relationship in which one person has a responsibility of care for the assets or rights of another person. e.g. this form of responsibility is generally witnessed in 'trusts' and 'companies'.

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