Asked by Bilan Osman on Jul 29, 2024
Verified
A duty to place a client's interest above the professional's own interests is known as:
A) a professional relationship.
B) duty of care.
C) solicitor-client privilege.
D) fiduciary duty.
E) a legal responsibility.
Fiduciary Duty
A legal obligation of one party to act in the best interest of another when managing assets or making decisions on their behalf.
Client's Interest
The welfare or benefit of clients that professionals, such as lawyers or financial advisors, are obligated to prioritize in their service.
Professional Relationship
A relationship between individuals in a workplace or business environment, based on professional respect and collaboration.
- Gain an understanding of fiduciary duty principles and how they affect professional-client interactions.
Verified Answer
BP
Briannia PearsonJul 30, 2024
Final Answer :
D
Explanation :
Fiduciary duty refers to the obligation to act in the best interest of another party. For example, a lawyer has a fiduciary duty to their client, meaning they must prioritize the client's interests above their own.
Learning Objectives
- Gain an understanding of fiduciary duty principles and how they affect professional-client interactions.