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Namespace Prefixes

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Statements

Subject Item

dbr:Duty_of_loyalty

rdfs:label

Duty of loyalty

rdfs:comment

The duty of loyalty is often called the cardinal principal of fiduciary relationships, but is particularly strict in the law of trusts. In that context, the term refers to a trustee's duty to administer the trust solely in the interest of the beneficiaries, and following the terms of the trust. It generally prohibits a trustee from engaging in transactions that might involve self-dealing or even an appearance of conflict of interest. Furthermore, it requires a fiduciary to deal with transparency regarding material facts known to them in interactions with beneficiaries.

dcterms:subject

dbc:Corporate_law

dbo:wikiPageID

3439123

dbo:wikiPageRevisionID

1103916377

dbo:wikiPageWikiLink

dbr:Trustee dbr:Corporate_opportunity dbr:Equity_(law) dbr:Beneficiaries dbr:Self-dealing dbr:Materiality_(law) dbr:Corporation_law dbr:Fiduciary dbr:Trust_law dbr:Fiduciary_management dbr:Conflict_of_interest dbr:Business_judgment_rule dbr:Model_Business_Corporation_Act dbr:Duty dbr:Transparency_(behavior) dbr:Trust_Law dbr:Duty_of_care_(business_associations) dbc:Corporate_law

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freebase:m.09cfzc wikidata:Q5317581 n15:4iTck

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dbt:Law-term-stub dbt:Companies_law dbt:Law

dbo:abstract

The duty of loyalty is often called the cardinal principal of fiduciary relationships, but is particularly strict in the law of trusts. In that context, the term refers to a trustee's duty to administer the trust solely in the interest of the beneficiaries, and following the terms of the trust. It generally prohibits a trustee from engaging in transactions that might involve self-dealing or even an appearance of conflict of interest. Furthermore, it requires a fiduciary to deal with transparency regarding material facts known to them in interactions with beneficiaries. Duty of loyalty in corporation law to describe a fiduciary's "conflicts of interest and requires fiduciaries to put the corporation's interests ahead of their own." "Corporate fiduciaries breach their duty of loyalty when they divert corporate assets, opportunities, or information for personal gain." It is generally acceptable if a director makes a decision for the corporation that profits both him and the corporation. The duty of loyalty is breached when the director puts his or her interest in front of that of the corporation.

prov:wasDerivedFrom

wikipedia-en:Duty_of_loyalty?oldid=1103916377&ns=0

dbo:wikiPageLength

3893

foaf:isPrimaryTopicOf

wikipedia-en:Duty_of_loyalty