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Simple English definitions for legal terms
trust relationship
Read a random definition: transfer-on-death (TOD)
A quick definition of trust relationship:
A trust relationship is when two or more people have a special connection and rely on each other. This can be a legal relationship that gives them certain rights and responsibilities. For example, a doctor and patient have a trust relationship because the patient trusts the doctor to take care of them and the doctor has a duty to help the patient. Other examples include relationships between employers and employees, parents and children, and lawyers and clients.
A more thorough explanation:
A trust relationship is a type of association between two or more people that involves a high level of trust and reliance on specialized training or knowledge. It can be legally recognized and can affect the participants' legal rights and duties of care.
- Attorney-client relationship: This is a formal legal representation of a person by a lawyer. The lawyer has a duty to act in the best interest of the client and keep their information confidential.
- Doctor-patient relationship: This is the association between a medical provider and a patient. The doctor has a duty to ensure that the patient gives informed consent for treatment.
- Fiduciary relationship: This is a relationship in which one person is under a duty to act for the benefit of another on matters within the scope of the relationship. Examples include trustee-beneficiary, guardian-ward, principal-agent, and attorney-client relationships.
These examples illustrate how trust relationships involve a high level of trust and reliance on specialized knowledge or training. They also involve a duty to act in the best interest of the other person and keep their information confidential.