Chapter 9 Flashcards
1
Q
Segregation of cash
A
Keeping clients’ funds separate from the law firm funds.
2
Q
Hard Copy
A
A copy of computer records on a sheet of paper
3
Q
Cash Receipts Journal
A
Record of all deposits and cash received
4
Q
Cash Payments Journal
A
Record of all checks written or cash disbursed
5
Q
Check Kiting
A
using other clients’ funds until a check clears the bank
6
Q
Client Security Fund
A
A fund established to reimburse clients who have been damaged because of their attorney’s fraudulent abuse of the trust account
7
Q
Misappropiation
A
Using funds in the trust account for personal purposes
8
Q
Commingling
A
Mixing one persons’s funds with another person’s funds
