Question
Which principle states that the trustee must act honestly and in good faith, prioritizing the interests of the beneficiaries above their own?
Solution
The Principle of Fiduciary Duty is fundamental to the law of trusts. It requires trustees to act with utmost good faith, honesty, and loyalty toward the beneficiaries. Trustees must avoid conflicts of interest and cannot benefit personally from the trust property. This principle ensures trustees prioritize the beneficiariesā interests and manage the trust property responsibly and prudently.
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