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Fiduciary Relationships In Texas

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There are some business relationships in Texas, and elsewhere, which may impose legal requirements of care and loyalty. These requirements may be referred to as a fiduciary duty. According to the Cornell University Law School’s Legal Information Institute, a fiduciary duty is a legal responsibility to act solely in the interests of another person, group or business. Failing to uphold these duties may be considered a breach of your fiduciary duties, which may lead to a business dispute. There are numerous examples of fiduciary relationships. For example, an investment manager might owe a fiduciary duty to the participants in a pension plan. As a fiduciary, or someone who owes such a duty, you make take legal title to certain assets. However,

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