North Carolina § 32-2 - Definition of terms.

§ 32-2. Definition of terms.

In this Article unless the context or subject matter otherwise requires: A thing is done "in good faith" within the meaning of this Article when it is in fact done honestly, whether it be done negligently or not. "Bank" includes any person or association of persons, whether incorporated or not, carrying on the business of banking. "Fiduciary" includes a trustee under any trust, expressed, implied, resulting or constructive, executor, administrator, guardian, conservator, curator, receiver, trustee in bankruptcy, assignee for the benefit of creditors, partner, agent, officer of a corporation, public or private, public officer, or any other person acting in a fiduciary capacity for any person, trust or estate. "Person" includes a corporation, partnership, or other association, or two or more persons having a joint or common interest. "Principal" includes any person to whom a fiduciary as such owes an obligation. History (1923, c. 85, s. 1; C.S., s. 1864(e); 1965, c. 628, s. 2.) Legal Periodicals. - For article on constructive trusts in North Carolina, see 45 N.C.L. Rev. 424 (1967). For note on workers' compensation and retaliatory discharge, see 58 N.C.L. Rev. 629 (1980).