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Word of the Day 9/6/14 Fiduciary

Fiduciary (noun, adjective)
fiduciary [fi-doo-shee-er-ee, -dyoo-]


noun, plural fiduciaries.
1. Law. a person to whom property or power is entrusted for the benefit of another.

adjective
2. Law. of or pertaining to the relation between a fiduciary and his or her principal: a fiduciary capacity; a fiduciary duty.
3. of, based on, or in the nature of trust and confidence, as in public affairs: a fiduciary obligation of government employees.
4. depending on public confidence for value or currency, as fiat money.

Origin: 1585-95; < Latin fīdūciārius of something held in trust, equivalent to fīdūci (a) trust + -ārius -ary

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