Chapter 1

Question 1

Code of Business Conduct

Answer 1

A formal statement that sets out the values and standards of business practices of an organization

Question 2

Contingency fee

Answer 2

A fee paid to a lawyer that is based on a percentage of the sum recovered by the client

Question 3

Corporate Social Responsibility

Answer 3

Voluntary activities undertaken by a company to operate in an economically, socially and environmentally sustainable manner

Question 4

Disbursements

Answer 4

Out of pocket costs incurred by the lawyer on the client’s behalf

Question 5

Ethics

Answer 5

A system of moral principles governing the appropriate conduct for an individual or a group

Question 6

Fixed fee

Answer 6

A predetermined fee paid to a lawyer for completing a specific task

Question 7

Law society

Answer 7

A self governing body whose mandate involves regulating the legal profession in the public interest; law societies set and enforce ethical and professional standards for lawyers

Question 8

Legal aid

Answer 8

The provision of legal services to persons in financial need

Question 9

Retainer

Answer 9

A deposit paid by a client to a lawyer before the lawyer commences work on behalf of the client

Question 10

Solicitor-Client Privilege

Answer 10

The duty of the lawyer to keep the information provided by the client confidential

Question 11

Sophisticated client

Answer 11

A person who understands and appreciates the importance of the solicitor client relationship and the role of the lawyer in making good decisions