Defalcation - Wikipedia The classic example of defalcation occurs when a trustee recklessly invests in trust funds and loses the money If the beneficiary wins a judgment against the trustee, and the trustee files for bankruptcy, the debt (the judgment) cannot be discharged in bankruptcy because the debt was the result of a defalcation
DEFALCATION Definition Meaning | Dictionary. com DEFALCATION definition: misappropriation of money or funds held by an official, trustee, or other fiduciary See examples of defalcation used in a sentence
Defalcation: The Ultimate Guide to Fiduciary Misconduct Defalcation: The Ultimate Guide to Fiduciary Misconduct What is Defalcation? A 30-Second Summary Imagine you've appointed your trusted uncle to be the ` executor ` of your late mother's estate You believe he'll honor her wishes, pay the bills, and distribute the remaining inheritance to you and your siblings
defalcation, n. meanings, etymology and more | Oxford English Dictionary Factsheet What does the noun defalcation mean? There are seven meanings listed in OED's entry for the noun defalcation, two of which are labelled obsolete See ‘Meaning use’ for definitions, usage, and quotation evidence defalcation has developed meanings and uses in subjects including economics and commerce (early 1600s) finance (early