Explanation
The correct answer is C: Trust.
A fiduciary relationship is a relationship based on trust and confidence, in which one party (the fiduciary) is obligated to act in the best interests of the other party (the beneficiary). The fiduciary owes a duty of loyalty, care, and good faith to the beneficiary and must act in their best interests, even if it means sacrificing their own interests.
Fiduciary relationships can arise in a variety of contexts, including business partnerships, attorney-client relationships, trustee-beneficiary relationships, and financial advisor-client relationships. In each of these contexts, the fiduciary is entrusted with the responsibility of acting in the best interests of the beneficiary.
For example, in a trustee-beneficiary relationship, the trustee is the fiduciary and the beneficiary is the party who benefits from the trust. The trustee has a legal obligation to manage the trust assets in the best interests of the beneficiary, and must not use the assets for their own benefit.
In summary, a fiduciary relationship is based on trust, and the fiduciary is obligated to act in the best interests of the beneficiary. The fiduciary owes a duty of loyalty, care, and good faith to the beneficiary, and must act in their best interests, even if it means sacrificing their own interests.
