A Fiduciary Is an Individual or an Entity Authorized to Take

question 36

True/False

A fiduciary is an individual or an entity authorized to take possession of the property of others.

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Definitions:

Course of Performance

The conduct between contracting parties that establishes a pattern of behavior, which can influence the interpretation of their contract's terms and obligations.

Substantially Impaired

Significantly reduced in ability or function, often referring to a state of physical or mental incapacity that affects one's legal rights or responsibilities.

Risk Passes

A term used in sales and contract law signifying the point at which the risk of loss or damage to goods transfers from the seller to the buyer.

Destroyed Goods

Items or products that have been damaged to the point where they can no longer serve their intended purpose.