The ABA Model Rule 1.15 (A)

Topics: Employment, Accounts receivable, Balance sheet Pages: 4 (781 words) Published: January 31, 2018

Sem_2 DB #2

Did Welch(W) handle the matter properly when Dringle (D) left a check, a message, and a set of keys for the motorboat at W’s office, W put these items in an envelope and kept it in her office safe, then W deposited the check in her client trust account two weeks later?

ABA Model Rule 1.15
ABA Model Rule 1.15(A) provides that,

“A lawyer shall hold property of clients or third persons that is in a lawyer's possession in connection with a representation separate from the lawyer's own property. Funds shall be kept in a separate account maintained in the state where the lawyer's office is situated, or elsewhere with the consent of the client or third person. Other property shall be identified as such and appropriately safeguarded. Complete records of such account funds and other property shall be kept by the lawyer and shall be preserved for a period of [five years] after termination of the representation.”...

A similar obligation may be imposed by law on funds or other property so held and owned or claimed by a third person. In particular, the lawyer must hold such property separate from the lawyer's property, keep records of it, deposit funds in an account separate from the lawyer's own funds, identify tangible objects, and comply with related requirements imposed by regulatory authorities.
(2) Upon receiving funds or other property in a professional capacity and in which a client or third person owns or claims an interest, a lawyer must promptly notify the client or third person. The lawyer must promptly render a full accounting regarding such property upon request by the client or third person.”

Restat 3d of the Law Governing Lawyers, § 44 (3rd...
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