Which of the following is NOT considered a fiduciary duty?

In the context of fiduciary duties, the correct answer is that "direct competition" is not considered a fiduciary duty. A fiduciary duty arises when one party places trust and confidence in another, expecting that the other party will act in their best interest. The most common fiduciary duties include various obligations like disclosure, confidentiality, and accountability.

Disclosure involves informing the principal of all relevant facts that might affect their interests, ensuring transparency and informed decision-making. Confidentiality requires fiduciaries to protect sensitive information and not disclose it without consent. Accountability means that the fiduciary must be answerable for their actions and decisions, managing their principal's interests honestly and prudently.

In contrast, "direct competition" refers to a situation where one party competes against another, which does not align with the fundamental principles of a fiduciary relationship. Engaging in direct competition can undermine trust and the duty to act solely in the principal's best interest, making it inconsistent with the essence of fiduciary obligations.