C. A duty of utmost good faith , trust, confidence and candor.
Listen to pronunciationLegal Definition - A duty of utmost good faith, trust, confidence and candor owed by a fiduciary*, such as a lawyer or a corporate officer, to the beneficiary, such as a lawyer's client or a shareholder; a duty to act with the highest degree of honesty and loyalty toward another person and in the interests of the other person, such as the duty that one partner owes to another. Black's Law Dictionary® Eighth Edition © 2004
Recent Usage - A Florida lawyer has filed a class action against tax preparation giant H&R Block alleging the company fraudulently marketed money-losing individual retirement accounts to low-income clients across the country. The suit, alleging breach of contract and [breach of] fiduciary duty, claims that H&R Block made millions from the products even as clients' IRA assets were depleted by fees and commissions. The suit was filed in federal court in Kansas City the same day that a similar claim was filed in New York state court. Daily Business Review March 20, 2006
*Fiduciary - A person who holds a position of trust with respect to someone else, a trustee. Black's Law Dictionary® Eighth Edition © 2004