what is conflict of intererst?

Answer 1

A situation in which someone who has to make a decision in an official capacity stands to profit personally from the decision.

or

A conflict between the private interests and the official or professional responsibilities of a person in a position of trust.

or

A conflict between competing duties (as in an attorney's representation of clients with adverse interests).

Answer 2

conflict of interest
n. 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.

Answer 3

How 'bout an example?

You are a judge and you've been assigned to hear a dispute case between a car dealership and a customer. Your cousin is the general manager of the dealership. You, as a judge, would have to declare a conflit of interest and remove yourself from the case, because you have a personal connection to the case.

It's basically that, having the ability to make a decision that is supposed to be unbiased, but having some kind of factor that adds the possiblilty of bias.

Answer 4

That would be (in my case) as a property inspector, if I called the roof as bad and then refered the work to my best friend. The roof could be good, but if I said it was not and then got the work to replace it myself or someone I am associated with that would be a conflict of intrest...good enough?

Answer 5

If you are in the position of making a decision whose outcome could benefit you if decided one way rather than the other. The conflict is in your interest in deciding a question and benefiting from a certain outcome. You could be questioned about your impartiality..

Answer 6

it means you might have something to gain in a matter and therefore you may prejuidiced in your way of settling matters are making decisions that may not be fair to others simply to benefit yourself or someone else,a family member,husband,wife,etc. you may have an issue with someone else and be less than truthful to serve your own agenda.or maybe you just want to hurt someone else so you would lie to cause them grief,pain,even their job just because you could.it happens all the time.

Answer 7

it means when you know all about a interest and someone adds something out of the blue thats absolutely nothing to do with your interest=thats conflict of interest.

Answer 8

http://en.wikipedia.org/wiki/Conflict_of_interest