prudent person
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prudent person rule — The requirement that a trustee, a city or county treasurer, an investment manager of pension funds, or any fiduciary (a trusted agent) must invest funds with discretion, care, and intelligence. Investments that are generally within the prudent… … Law dictionary
Prudent-Person Rule — A legal maxim restricting the discretion in a client s account to investments that a prudent person seeking reasonable income and preservation of capital might buy for his or her own portfolio. Also called the prudent man rule . This rule is… … Investment dictionary
prudent man rule — n: a rule giving discretion to a fiduciary and esp. a trustee to manage another s affairs and invest another s money with such skill and care as a person of ordinary prudence and intelligence would use in managing his or her own affairs or… … Law dictionary
prudent — pru·dent / prüd ənt/ adj: characterized by, arising from, or showing prudence pru·dent·ly adv Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. prudent … Law dictionary
reasonably prudent person — See prudent; the ordinary prudent man … Ballentine's law dictionary
prudent, prudential — These words are derived from a Latin term meaning to look after, to provide for. Prudent is employed to mean wise, cautious, practical, careful in providing for one s interests, sensible about planning for the future : It is always prudent to… … Dictionary of problem words and expressions
prudent — Sensible, cautious, exercising judgment. There may be an infinitesimal shade of difference between cautious and prudent, but a reasonably prudent person and a reasonably cautious person are substantially the same, and possess identical… … Ballentine's law dictionary
Prudent Expert Act — A measure contained in section 404(a)(1)(B) of the Employee Retirement Income Security Act (ERISA) that requires the fiduciary of a defined contribution retirement plan to use care, skill, prudence and diligence , and to act in the same way that… … Investment dictionary
prudent man rule — /ˌpru:d(ə)nt mæn ru:l/ noun a rule that trustees who make financial decisions on behalf of other people should act carefully (as a normal prudent person would) … Dictionary of banking and finance
prudent — [[t]pru͟ːd(ə)nt[/t]] ADJ GRADED: oft it v link ADJ to inf Someone who is prudent is sensible and careful. It is always prudent to start any exercise programme gradually at first... Being a prudent and cautious person, you realise that the problem … English dictionary
prudent — adj. 1 (of a person or conduct) careful to avoid undesired consequences; circumspect. 2 discreet. Derivatives: prudence n. prudently adv. Etymology: ME f. OF prudent or L prudens = providens PROVIDENT … Useful english dictionary
