What is the exact meaning of the phrase “conflict of interest”? I heard it used when two opposite opinions were given on some work, so a third person had to support the decision. Nevertheless, we have a similar phrase in Polish but it means something different: it is used when two persons want to do two opposite things (for instance, one wants to go right and the second wants to go left; it’s a simple and silly example, but I think it works here). I haven’t heard it used in Polish in the meaning given before. Maybe this phrase has in English several various meanings?
A "conflict of interest" means that a person cannot make a disinterested (unbiased) decision because they have a stake (an 'interest') in whether the outcome goes one way or the other.