Week Two Misc

Question 0

What does the law require of a fiduciary

Answer 0

Preserve confidentiality
Doesn’t put own interests before their duty to client
Not profit from their position unless with client consent

Question 1

Define fiduciary

Answer 1

Someonwho has undertaken to act for and on behalf of another person which gives rise to a relationship of trust and confidence.
A fiduciary
is in a position of trust
Must act in he best interests of the other party (loyalty)
Avoid conflicts of interests
Obligated to act impartially.

Question 2

What are words associated with fiduciary

Answer 2

Good faith
Loyalty
Trust
Fides meaning faith In latin

Question 3

What is a duty

Answer 3

Higher than not not divulging but positive steps

Question 4

RCCC acting against a previous client
Is it possible?
What are the aspects that are new.

Answer 4

Yes but rule 8.7.1 makes clear it is one of information not loyalty.
New aspects?
Is confidential info held?and
Is the information relevant to the new matter?and
Is there more than a negligible risk?and
Would the fiduciary obligation likely be undermined?
Nb in conjunction. And and and

Question 5

What is a conflict of interest

Answer 5

Where a practitioner has significant personal considerations or knowledge which may compromise or appear to compromise their professional judgement or integrity

Question 6

Are their exceptions to the rule in regard to conflicts of interest

Answer 6

Very few exceptions but where there are they will need “prior informed consent of all parties.” A waiver.

Question 7

What are common cases where you can’t act for both parties that can never be waived. Even if they give consent

Answer 7

Divorce
Child custody
Even if Chinese wall

Question 8

What ever the situation, if a conflict of interest is present what must the practitioner do?

Answer 8

Not continue to act for both parties