Fiduciary

Business / Real Estate / Fiduciary: A relationship that implies a position of trust or confidence wherein one person is usually entrusted to hold or manage property or money for another. The term fiduciary describes the faithful relationship owed by an attorney to a client or by a broker (and salesperson) to a principal. The fiduciary owes complete allegiance to the client. Among the obligations that a fiduciary owes to his or her principal ane the duties of loyalty, obedience and full disclosure, the duty to use skill, care and diligence, and the duty to account for all monies.

Obedience

Business / Real Estate / Obedience: The fiduciary relationship obligates the agent to act in good faith at all times, obeying the principals instructions in accordance with the contract. However, that obedience is not absolute. The agen MORE

Principal

Business / Construction / Principal: The original amount of the loan, the capital. MORE

Embezzlement

Business / Real Estate / Embezzlement: The fraudulent appropriation for ones own use or benefit of property or money, by a clerk, agent, trustee, public officer, or other person acting in a fiduciary capacity for another. MORE

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