A fiduciary duty is an obligation to act in a person’s best interest, due to the nature of the relationship with that person.
Have you ever rented a car from a company like Avis, Alamo, Budget, Enterprise, or Hertz? Most people have, and you may have noticed something peculiar when you did. After all the documentation has been signed and you’re ready to take possession of the vehicle, they hand you the key. Except they don’t give you the key. Frequently, they instead hand you the keys – both of the car’s keys, stuck together on one unbreakable braided steel lanyard.