Fiduciary Responsibility Of Fast Food Business  

A fiduciary responsibility means to act in the best interest of the party that has been made dependent on you lawfully. It is not a moral responsibility but a lawful responsibility.

For example, if a person has the fiduciary responsibility as an investment advisor, then he or she would be responsible for investment related decisions made by the investment committee.

A fiduciary’s role in any business is to give advice when needed and the advice should be in the best interest of the beneficiary. Similarly, in a fast food business the role of a fiduciary is to give the right advice that serves for the betterment of the business whereas selling the products, for example, may not be the fiduciary’s role. The fiduciary responsibility in the fast food business may be limited to how the fast food can be sold but not how much of it has to be sold or why it has not been sold. The main decisions that involve how to expand the business, when to expand it and in what way to expand it may be a part of the fiduciary’s responsibility.

The fast food business in this case has to entrust the responsibility to the fiduciary so that the decisions can be made on behalf of the business by the fiduciary. Any person involved in the business has to act in accordance and with the permission of the fiduciary and only then can it be defined as a fiduciary responsibility. In all companies where fiduciaries are involved, their responsibilities are clearly marked in the form of a contract.

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Partners-Breech-Of-Fiduciary-Duty-To-Other-Partners      Partners are defined as two or more people engaged in a common kind of business for profit making. In partnership the partners are defined as fiduciaries to each other. A fiduciary is a person who acts in goodwill or for the good of the other person. This would mean that the partners owe each other the lawful responsibility of good faith for the business and other basic duties related to the business. More..

 


 

 

 
   
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