MPRE STUDY GUIDE NOTES EXAM QUESTIONS WITH CORRECT ANSWERS

MPRE STUDY GUIDE NOTES EXAM QUESTIONS WITH CORRECT ANSWERS Types of Transactions with Clients that may be Conflicts... - Answer-RULE 1.8 COVERS ALL THIS - Business transactions - Using Information - Gifts - Literary or Media Rights - Financial Assistance - Proprietary Interest Business transactions - Answer-RULE 1.8 a lawyer shall not enter into a business transaction with a client or knowingly acquire an ownership, possessory, security, or other pecuniary interest adverse a client unless FARIIS Exceptions to Business Transaction Conflicts with Clients (FARIIS) - Answer-F - the transaction if FAIR AND REASONABLE to the client; A - the client is ADVISED IN WRITING of the desirability of seeking and R - is given a REASONABLE OPPORTUNITY to seek the advice of I - INDEPENDENT LEGAL COUNSEL on the transaction; and I - the client gives INFORMED CONSENT in a S - SIGNED WRITING, to the essential terms of the transaction and the lawyer's role in the transaction including whether the lawyer is representing the client in the transaction Using Information - Answer-a lawyer shall not use information relating to representation of a client to the disadvantage of the client UNLESS THE CLIENT GIVES INFORMED CONSENT, except as permitted or required by the rules Gifts - Answer-a lawyer shall not solicit any substantial gift from a client, including a testamentary gift, or prepare on behalf of a client an instrument giving the lawyer or a person related to the lawyer any substantial gift, unless the lawyer or other recipient of the gift is related to the client Literary or media rights - Answer-prior to the conclusion of representation of a client, a lawyer shall not make or negotiate an agreement giving the lawyer literary or media rights to a portrayal or account based in substantial part on information relating tot he representation Financial Assistance to Client - Answer-a lawyer shall not provide financial assistance to a client in connection with pending or contemplated litigation, except that it may advance court costs contingent on the outcome, or may pay court costs for an indigent client