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.
Statute of Limitations for Breach of Fiduciary Duty by Corporation. Statute of limitations for breach of its fiduciary duties when a corporation commits breach of trust against its shareholders. Statute of Limitations for Breach of Fiduciary Duty. The general statute of limitations for breach of fiduciary duty is four years. Tex. Civ. Prac. & Rem. Code Â§ 16.004(5). Because the corporations duties are quasi-fiduciary duties arising out of a relationship that courts analogize to a trust, it would seem that this limitations period would clearly apply.