The highest standard of care in law, requiring one party to act in the best interests of another party with complete loyalty, honesty, and good faith. This duty arises in relationships of trust and confidence, such as between trustees and beneficiaries, corporate directors and shareholders, or attorneys and clients.
From Latin 'fiduciarius' meaning 'held in trust,' from 'fides' (faith). Roman law recognized this concept for guardians managing property for others. English common law expanded it to various trust relationships, emphasizing the moral obligation to put another's interests above one's own.
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