5122346
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Flashcards by MadisynRenee, updated more than 1 year ago
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Created by MadisynRenee
over 8 years ago
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Copied by MadisynRenee
over 8 years ago
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| Question | Answer |
| Confidentiality | "cornerstone of the legal relationship' A set of rules or a promise that limits access to, or places restrictions on, certain types of information. |
| Retainer | A contract for the provision of specialized services, such as the contract between a legal practitioner and a client for the provision of legal services. |
| Who/ what is a fiduciary? | is someone who has undertaken to act for and on behalf of another in a particular matter in circumstances which give rise to a relationship of trust and confidence. eg. solicitors, conveyancers, partners |
| A fiduciary is: | - in a position of trust - expected to always act in the best interests pf the other party (ie. loyalty) - obligated to avoid conflicts of interest - obligated to act impartially |
| The law requires that a fiduciary: | - provide confidentiality -does not put personal interests before their duty to their client. - must not profit from their position unless with client consent. |
| what are the "reserved areas of work"? | is anything in terms of court only lawyers may carry out. eg. tax, wills, trusts |
| Regulated services in relation to a lawyer... | - legal services -conveyancing services -services that lawyer provides by undertaking the work of a real estate agent. |
| Regulated services in relation to a conveyancing practitioner... | - conveyancing services - services that a conveyancing practitioner provides by undertaking the work of a real estate agent. |
| professional misconduct | means conduct of the lawyer or incorporated law firm that occurs at a time when he/she is providing regulated services. s7 LACA more serious! |
| unsatisfactory conduct | conduct that falls short of the standard of competence and diligence that a member of the public is entitled to expect of a reasonably competent lawyer. s12 LACA |
| conflict of interest | as per rule 6.1 of Conduct and Client Care Rules "a lawyer must not act for more than 1 client on a matter where there is more than a negligible risk that the lawyer may be unable to discharge the obligations owed to 1 client or more of the clients." |
| undertaking | "a formal pledge or promise to do something" (taken seriously in a law firm) |
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