Professional Conduct and Professionalism Flashcards
proprietary interest
a lawyer must not obtain a proprietary interest in the cause of action or subject matter of the litigation in which a client is represented, except that the lawyer may (i) acquire a lien granted by law to secure payment of a fee, and (ii) contract with a client for a reasonable contingent fee.
Conflict of interest
Lawyers owe clients a basic duty of loyalty and independent professional judgment. A lawyer must always be aware of any possible conflicts of interest that could arise. A lawyer must not represent a client if (i) the representation of one client will be directly adverse to another client, or (ii) there is a substantial risk that representation of one or more clients will be materially limited by the lawyer’s responsibilities to another client. Additionally, a lawyer may not represent opposing parties in the same lawsuit or transaction.
