agency

Fiduciary Relationship

A relationship in which an individual places complete confidence, trust, and reliance in someone who has a fiduciary duty to act for the individual's benefit. A fiduciary relationship need not be formally or legally established; it may be assumed where the fiduciary has superior knowledge and training compared to the person whose affairs the fiduciary is handling.

Authority

1) A power to act or to order others to act. Often one person or entity gives another the authority to act, as an employer to an employee, a principal to an agent, a corporation to its officers, or a government to an agency. 2) A court decision used to make a point or support an argument.

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