Evening in its primary meaning is the period of the day between afternoon and night. Though the term is subjective, evening is typically understood to begin a few hours before sunset, when temperatures begin to fall, and lasts until just after nightfall, when complete darkness has been reached.
Breach of Fiduciary Duty Law and Legal Definition. A fiduciary duty is an obligation to act in the best interest of another party. For instance, a corporation's board member has a fiduciary duty to the shareholders, a trustee has a fiduciary duty to the trust's beneficiaries, and an attorney has a fiduciary duty to a client.
Another layer of the fiduciary duty issue is the question of the substance and. scope of the fiduciary duty for federal purposes, that is, as it is relevant to the SECâs. mission. The federal fiduciary duty comprises a subset of the general fiduciary duty. that an investment adviser owes to his clients.