Business Transactions with Clients
Explore the general rule prohibiting lawyers from entering business relationships with clients and the strict requirements that must be met for such business relationships to be ethical.
Lawyers and their clients often have professional relationships built on respect and loyalty, which can create for interesting business opportunities. In this clip, we will analyze the Model Rules of Professional Conduct’s general prohibition against lawyers engaging in business transactions with clients, and the basis for it. We will then discuss Model Rule 1.8(a) and the three requirements for any lawyer entering a business transaction with a client: the transaction must be fair and...