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.
Duty of Loyalty. The most important fiduciary duty is the duty of loyalty. The concept is simple: the. decision makers within the company should act in the interests of the company, and not in. their own interests. The easiest way to comply with this duty is not to engage in transactions. that involve a conflict of interest.