conflict of interest
conflict of interest
con′flict of in′terest
n.
| Noun | 1. | conflict of interest - a situation in which a public official's decisions are influenced by the official's personal interests |
| 单词 | conflict of interest | |||
| 释义 | conflict of interestconflict of interestcon′flict of in′terestn.
conflict of interestconflict of interestconflict of ˈinterest(s)a situation in which there are two jobs, aims, roles, etc. and it is not possible for both of them to be treated equally and fairly at the same time: There was a conflict of interest between his business dealings and his political activities.conflict of interestcon·flict of in·ter·estconflict of interestcon·flict of in·ter·est(kon'flik in'tĕr-ĕst)Conflict of InterestConflict of InterestA term used to describe the situation in which a public official or fiduciary who, contrary to the obligation and absolute duty to act for the benefit of the public or a designated individual, exploits the relationship for personal benefit, typically pecuniary. In certain relationships, individuals or the general public place their trust and confidence in someone to act in their best interests. When an individual has the responsibility to represent another person—whether as administrator, attorney, executor, government official, or trustee—a clash between professional obligations and personal interests arises if the individual tries to perform that duty while at the same time trying to achieve personal gain. The appearance of a conflict of interest is present if there is a potential for the personal interests of an individual to clash with fiduciary duties, such as when a client has his or her attorney commence an action against a company in which the attorney is the majority stockholder. Incompatibility of professional duties and personal interests has led Congress and many state legislatures to enact statutes defining conduct that constitutes a conflict of interest and specifying the sanctions for violations. A member of a profession who has been involved in a conflict of interest might be subject to disciplinary proceedings before the body that granted permission to practice that profession. Cross-referencesAttorney Misconduct; Ethics, Legal. conflict of interestn. a situation in which a person has a duty to more than one person or organization, but cannot do justice to the actual or potentially adverse interests of both parties. This includes when an individual's personal interests or concerns are inconsistent with the best for a customer, or when a public official's personal interests are contrary to his/her loyalty to public business. An attorney, an accountant, a business adviser or realtor cannot represent two parties in a dispute and must avoid even the appearance of conflict. He/she may not join with a client in business without making full disclosure of his/her potential conflicts, he/she must avoid commingling funds with the client, and never, never take a position adverse to the customer. conflict of interestconflict of interestA situation that presents the possibility of having to choose which side in a transaction will receive the better service, deal, terms, or representation.The conflict may be choosing between two other parties,such as an agent attempting to represent both buyer and seller in a particular transaction,or it may be between the party and another,such as a real estate broker wishing to purchase property listed with that same broker.Rules regarding handling conflicts of interest generally provide a solution through full disclosure to all parties involved or withdrawal from the situation entirely. conflict of interest
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