Study Unit 3 Flashcards
1
Q
Liability of Fidelity Fund
A
• Fund is liable to reimburse persons who suffer pecuniary loss
- as a result of theft of money or any other property given in trust to account practice
- in the course of the practice of attorney of advocate
2
Q
When shall the fund not be liable ?
A
- Employment of non-practitioner
- By wife/husband of practitioner
- By partner
- By person who has received a warning from LPC
- By person who instructed attorney to invest
3
Q
Claims against fund
A
- Must notify within 3 months after becoming aware
- Must then proof claim within 6 months
- If repudiated, summons must be issued within 1 year
