Conflict of Interest Flashcards
COI exists when
The interests of two or more clients are directly adverse conflict or the personal interests of the lawyer and client conflict
Representing adversaries in the same matter.
Lawyer may not represent adverse parties in the same matter.
Can conflict be waived by clients that are adversaries in the same matter
No.
When is a conflict material
when there is a signifcant risk that the rep to one or more clients will be materially limited by the other client
When is rep permissible with a COI,
if the lawyer reasonably believes that she will be able to represent each affected client; the rep. is not prohibited by law; the rep does not involve the same litigation; each affected client gives written informed consent
Informed consent must be:
In writing
Former clients COI
A lawyer who has formerly repped another must obtain written informed consent when a COI exists
Prospective client conflicts protections
If the prosective client said harmful material a lawyer may not rep a client materially adverse
Exceptions to prosective client conflict
If there is written and informed consent; or the lawyer took reasonable steps to limit the info and in a firm the other lawyer is screened away.
Business transactions with clients what can we not do
May not enter into a business transaction with client; or knowingly acquire an ownership interest to the client.
Exceptions to business transaction COI
The terms of the transactions are fair and reasonable to the client and fully disclosed to the client; the client is advised IN WRITING of the important of obtaining advice from independent counsel
Third party compensation
A lawyer may not accept compenstaion from a third party. Unless: the client gives informed consent, the fee arrangment does not interfere with lawyer; the lawyer protects all info
