What does the term “fiduciary duty” mean?
“Fiduciary duty” is the highest responsibility imposed by our civil law. It is a trust law concept, which requires that the fiduciary place the interests of the “beneficiaries” above that of his own. Under this fundamental legal concept, there is absolutely no room for any kind of self-interest of the fiduciary that would conflict with those of the beneficiary. The beneficiary’s interests are said to be paramount.
