A fiduciary is a person or entity bound by a legally enforceable duty to act solely in the best interest of another party (the beneficiary). The role exists only where law or contract creates it — courts of equity, corporate governance, trust law, and regulated professions (attorneys, trustees, executors, financial advisors) generate and maintain it. The boundary between fiduciary and ordinary commercial actor is drawn by the presence of a duty of loyalty, care, and good faith that outranks self-interest. Persistence mechanism: legal precedent, statutory codification, and professional licensing bodies enforce the standard through sanctions and remediation.
[formal: fīduciārius | substrate: behavior | horizon: a life | explicit: yes | epoch: 0.94]