Law Dictionary

fiduciary

This term is borrowed from civil law. The Roman laws called a fiduciary heir, the person who was instituted heir, and who was charged to deliver the succession to a person designated by the testament, says that fiduciarius heres properly signifies the person to whom a testator has sold his inheritance, under the condition that he should sell it to another. Fiduciary may be defined to be, in trust, in confidence.

2. A fiduciary contract is defined to be, an agreement by which a person delivers a thing to another, on the condition that he will restore it to him. The following formula was employed:' Ut inter bonos agere opportet, ne propter te fidemque tuam frauder.

Source : Bouvier 1856

Language : Latin

Return

Return to Law Dictionary Index