Information: - A conflict of interest (COI) is a situation in which a person or organization is involved in multiple interests, financial or otherwise, one of which could possibly corrupt the motivation or decision-making of that individual or organization. - In law, misappropriation is the unauthorized use of another's name, likeness, or identity without that person's permission, resulting in harm to that person. - A person is a being, such as a human, that has certain capacities or attributes constituting personhood, which in turn is defined differently by different authors in different disciplines, and by different cultures in different times and places. - The Duty of Loyalty is often called the cardinal principal of fiduciary relationships , but is particularly strict in the law of trusts . In that context , the term refers to a Trustee 's duty to administer the Trust solely in the interest of the beneficiaries , and following the Terms of the Trust . It generally prohibits a Trustee from engaging in transactions that might involve self - dealing or even an appearance of conflict of interest . Furthermore , it requires a fiduciary to deal with transparency regarding material facts known to them in interactions with beneficiaries . Duty of Loyalty in corporation law to describe a fiduciaries ' '' conflicts of interest and requires fiduciaries to put the corporation 's interests ahead of their own . '' '' Corporate fiduciaries breach their duty of loyalty when they divert corporate assets , opportunities , or information for personal gain . '' It is generally acceptable if a director makes a decision for the corporation that profits both him and the corporation . The duty of loyalty is breached when the director puts his or her interest in front of that of the corporation . - Self-dealing is the conduct of a trustee, an attorney, a corporate officer, or other fiduciary that consists of taking advantage of his position in a transaction and acting for his own interests rather than for the interests of the beneficiaries of the trust, corporate shareholders, or his clients. Self-dealing may involve misappropriation or usurpation of corporate assets or opportunities. Self-dealing is a form of conflict of interest. - An organization or organisation (see spelling differences) is an entity comprising multiple people, such as an institution or an association, that has a collective goal and is linked to an external environment. - Trustee (or the holding of a trusteeship) is a legal term which, in its broadest sense, can refer to any person who holds property, authority, or a position of trust or responsibility for the benefit of another. A trustee can also refer to a person who is allowed to do certain tasks but not able to gain income. Although in the strictest sense of the term a trustee is the holder of property on behalf of a beneficiary, the more expansive sense encompasses persons who serve, for example, on the Board of Trustees for an institution that operates for a charity, for the benefit of the general public, or a person in the local government. - In psychology, decision-making is regarded as the cognitive process resulting in the selection of a belief or a course of action among several alternative possibilities. Every decision-making process produces a final choice; it may or may not prompt action. Decision-making is the process of identifying and choosing alternatives based on the values and preferences of the decision-Maker. - A fiduciary is a person who holds a legal or ethical relationship of trust with one or more other parties (person or group of persons). Typically, a fiduciary prudently takes care of money or other asset for another person. One party, for example a corporate trust company or the trust department of a bank, acts in a fiduciary capacity to the other one, who for example has entrusted funds to the fiduciary for safekeeping or investment. Likewise, asset managersincluding managers of pension plans, endowments and other tax-exempt assetsare considered fiduciaries under applicable statutes and laws. In a fiduciary relationship, one person, in a position of vulnerability, justifiably vests confidence, good faith, reliance, and trust in another whose aid, advice or protection is sought in some matter. In such a relation good conscience requires the fiduciary to act at all times for the sole benefit and interest of the one who trusts. After reading the paragraphs above, we are interested in knowing the entity with which 'duty of loyalty' exhibits the relationship of 'instance of'. Find the answer from the choices below. Choices: - acting - bank - belief - collective - conflict of interest - course - environment - faith - final - good - human - identity - institution - law - legal term - money - name - officer - organization - party - people - person - position - process - relationship - sense - term - vulnerability
Answer:
legal term