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Definition Of Duty:


nA legally-defined responsibility to perform certain acts or meet certain standards of performance; an essential element of proof in a tort action is that the defendant had a duty to act in a certain manner, such as the duty to use due care in the operation of a motor vehicle.
Duties may be mandated by law, such as the duty to pay taxes, or may be voluntary, such as those assumed under a contract.delegable dutyA duty that may be transferred to another.nondelegable dutyA duty that one must perform personally, and that may not be delegated to another.Other definition of Duty- 1. A taxlevied on certain goods, services or transactions. Duties are enforceable by law and are imposed on commodities or financial transactions, instead of individuals. The obligation of a person in authority, such as a fiduciary, to fulfill the responsibilities ofhis or herposition. Duties may be revoked in certain situations, such as an airport'sduty-free shop. At a duty-free shop, commoditiesthat are usually taxed, like cigarettes and alcohol, will not have a duty levied on them. Foreign visitors willthen be able to purchase the goodsat alower price compared todomestic citizens. The chief executive officer of a company has a fiduciary duty to the company'sshareholders. This means that any course of action the CEOtakes should be in the best interested of the shareholders.

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