duty
noun | du·ty
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: tasks, service, or functions that arise from one's position performing a police officer's duties; also : a period of being on duty — see also jury duty : a period of being on duty — see also jury duty
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: an obligation assumed (as by contract) or imposed by law to conduct oneself in conformance with a certain standard or to act in a particular way duty of good faith a duty to warn of danger — see also public duty doctrine, special duty doctrine
— duty of candor
: a duty obligating directors of a corporation to disclose all material facts known to them about a transaction when they are seeking shareholder approval— duty of care
: a duty to use due care toward others in order to protect them from unnecessary risk of harm— duty of fair representation
: a duty obligating a labor union to represent the employees in its collective bargaining unit fairly and in good faith— duty of loyalty
: a duty obligating directors of a corporation to refrain from using their positions to further their own interests rather than the interests of the shareholders (as by self-dealing or fraud)— fiduciary duty
: a duty obligating a fiduciary (as an agent or trustee) to act with loyalty and honesty and in a manner consistent with the best interests of the beneficiary of the fiduciary relationship (as a principal or trust beneficiary)
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: tax; especially : a tax on imports : a tax on imports