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.
âº LAW a failure to responsibly manage money that someone else has trusted you to keep safe: 1  They were named in a $100 million civil action for breach of fiduciary duty following the bank's failure. 2  The retirement act gives workers the right to sue employers for breaches of fiduciary duty.