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Started By
Message
Question about lawyer
Posted on 3/11/19 at 6:50 am
Posted on 3/11/19 at 6:50 am
I heard this third hand so let’s consider this theoretically. A client saw a piece of property going up for option that they wanted to buy. They go to their banker to get a proof of fund letter and then to their lawyer who handles their estate about moving some funds around etc. to facilitate the purchase. The lawyer strongly advises against the purchase and the client decides against it based on this advice.
The property goes to auction and guess who buys it......the lawyer.
What say the OT
The property goes to auction and guess who buys it......the lawyer.
What say the OT
11
Posted on 3/11/19 at 6:51 am to Strannix
Lawyer is in trouble. Will likely be disciplined by the state bar association and can be sued for malpractice.
Posted on 3/11/19 at 6:53 am to AbitaFan08
I don’t think the client took any action. I know he’s super shady
Posted on 3/11/19 at 6:55 am to Strannix
Sounds like the client got honeydicked.
Posted on 3/11/19 at 6:55 am to Strannix
quote:
Question about lawyer
The Bard gave us the answer to all questions involving attorneys:
The first thing we do, let's kill all the lawyers.
--Henry VI, Part 2, Act IV, Scene 2
Posted on 3/11/19 at 6:56 am to Strannix
i would need to know more, but Eric Barfield would probably say that violates a few of our ethical rules. the lawyer appears to have mislead its client and created a conflict of interest at the very least.
Posted on 3/11/19 at 6:58 am to SlowFlowPro
quote:
the lawyer appears to have mislead its client and created a conflict of interest at the very least
From what I heard the lawyer advised the purchase of this particular piece of property would be a poor decision, then buys the property himself and opens a commercial enterprise on it.
Posted on 3/11/19 at 6:59 am to 995webmaster
quote:
lawyer
The Bard gave us the answer to all questions involving attorneys:
The first thing we do, let's kill all the lawyers.
--Henry VI, Part 2, Act IV, Scene 2
I think you need to read the passage again to get the true meaning.
Posted on 3/11/19 at 7:04 am to Strannix
quote:
From what I heard the lawyer advised the purchase of this particular piece of property would be a poor decision, then buys the property himself and opens a commercial enterprise on it.
Was there a reason given that it’d be bad?
Sounds sketchy but there’s some consideration that a good investment for me isn’t always a good investment for you
Posted on 3/11/19 at 7:07 am to Strannix
It’s a shame, but 99% of lawyers give the other 1% a bad name.
Posted on 3/11/19 at 7:19 am to Strannix
quote:
The lawyer strongly advises against the purchase and the client decides against it based on this advice.
So the lawyer saw legal issues with the client buying the property? I'm not sure why you would take a lawyers advice regarding the financial soundness of a transaction.
quote:
The property goes to auction and guess who buys it......the lawyer.
Perhaps the issue that make it legally problematic for the client did not apply to the lawyer?
In other words, not enough info,
Oh, and frick lawyers (as a rule, though I've know a few decent ones in my time)
Posted on 3/11/19 at 7:21 am to Strannix
Going to be fact-intensive on why the lawyer advised against making the purchase, but from what you've presented there could very well be some ethical violations that occurred.
Posted on 3/11/19 at 7:40 am to mdomingue
quote:
lawyer saw legal issues with the client buying the property
No legal issues, just advised against it in his capacity as estate planner
Posted on 3/11/19 at 7:42 am to Strannix
quote:
heard this third hand
Anything is possible, but you’d have to be a pretty bad lawyer to do this.
Posted on 3/11/19 at 7:58 am to Strannix
Does (did) said lawyer practice in Covington?
Posted on 3/11/19 at 8:10 am to boosiebadazz
In the old days the ethics rules were simple: avoid even the appearance of impropriety.
Posted on 3/11/19 at 8:48 am to Strannix
quote:
No legal issues, just advised against it in his capacity as estate planner
Ahh, that makes more sense. There could still be reasons it's a bad idea for the client but not for the lawyer, I guess. But it does sound like the guy might need to switch lawyers ASAP.
Posted on 3/11/19 at 9:28 am to Strannix
Question for the attorneys on here... do y'all have a legal fiduciary responsibility to your clients? Ethically yes, but legally?
In other words, were laws potentially broken here, or just ethical codes?
In other words, were laws potentially broken here, or just ethical codes?
Posted on 3/11/19 at 10:04 am to Strannix
quote:
From what I heard the lawyer advised the purchase of this particular piece of property would be a poor decision, then buys the property himself and opens a commercial enterprise on it.
Need more info. Was it a bad investment for the client, but a good investment for the lawyer? Did the lawyer make a disclosure that he was interested in the property?
Posted on 3/11/19 at 10:18 am to Koach K
quote:Psh, and how exactly is the MPRE going to make money on the ethics exam if there is only one rule?
In the old days the ethics rules were simple: avoid even the appearance of impropriety.
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