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top   »  governance   »  compliance   »  fiduciary duty   »  fiduciary vs principle

Fiduciary vs Principle

 , May 12, 2016 updated on January 15, 2023
A fiduciary is a party that has a duty to act solely in another party's interests. This other party is referred to as a principle. Fiduciary duty is a strict duty of care that is established by taking on certain responsibilities. The following are a few examples:
Examples: Fiduciary vs Principle
FiduciaryPrinciple
TrusteeBeneficiary
Corporate Officer Shareholders
Lawyer Client
Legal guardianWard
DoctorPatient
Director (Board of Directors) Shareholders
AgentClient
ExecutorHeirs
TeacherStudent
Public OfficialPublic
Overview: Fiduciary vs Principle
TypeFiduciary Duty
Fiduciary DefinitionA party that has a legal duty to act solely in a principle's interests.
Principle DefinitionA party that is owed fiduciary duty.
Related ConceptsFiduciary Duty
Conflict Of Interest
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