BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -A fiduciary relationship is where one person places some type of trust, confidence, and reliance on another person. The person who is delegated trust and confidence would then have a fiduciary duty to act for the benefit and interest of the other party.

Detailed explanation-2: -What is the best definition of a fiduciary relationship? In a fiduciary relationship, the beneficiary completely trusts the fiduciary, making the latter liable to act with honesty, loyalty, and care. The fiduciary is usually entrusted with the task of managing the finances or assets of the beneficiary.

Detailed explanation-3: -Confidence refers to the assurance that we have on someone. Trust refers to the firm belief that one has on another individual. Confidence is built on experiences, but trust is not. A person can have a rationale basis for trusting another.

Detailed explanation-4: -Related Content. A relationship in which one party (the fiduciary) is placed in a position of trust and confidence in relation to another party and acts on their behalf or in their interests in some respect.

Detailed explanation-5: -fiduciary re·la·tion·ship. : a relationship in which one party places special trust, confidence, and reliance in and is influenced by another who has a fiduciary duty to act for the benefit of the party. called also confidential relationship, fiduciary relation.