This is an extract of our Conduct Crib Sheet document, which we sell as part of our Business Law and Practice Notes collection written by the top tier of Cambridge And Oxilp And College Of Law students.
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1. Conflicts of Interest a. Principal 4 must act in the best interests of the client b. Outcome 3.5 cannot act if there is a conflict or a significant risk of a client conflict b.i. Both clients have to be current clients b.ii. IB 3.2 decline to act for clients whose interests are in direct conflict b.iii. IB 3.3 decline to act for clients where need to negotiate matters of substance b.iv. No conflict with a former client BUT SEE CONFIDENTIALITY c. Outcome 3.6 Can act for two or more clients if they have a substantially common interest in relation to the matter or a particular aspect of it c.i. (a) Explained issues & risks of acting to the clients & have a reasonable belief that they understand the risks?
c.ii. (b) Clients given informed consent in writing?
c.iii. (c) Satisfied that it is reasonable to act?
c.iv. (d) The benefits of acting outweigh the risk?
c.iv.1. IB 3.5 Question whether it would be appropriate to act for all parties or whether it would be in their best interests to be separately represented c.v. IB 3.12 it will be unreasonable to act if clients have unequal bargaining power d. Outcome 3.7 Can act for two or more clients if they are competing for the same objecting d.i. (a) Explained issues & risks of acting to the clients & have a reasonable belief that they understand the risks?
d.ii. (b) Clients given informed consent in writing?
d.iii. (c) No other client conflict in relation to the matter?
d.iv. (d) Unless the clients specifically agree, no individual acts for, or is responsible for the supervision of work done for, more than one of the clients in that matter d.v. (e) The benefits of acting outweigh the risk?
d.v.1. IB 3.5 Question whether it would be appropriate to act for all parties or whether it would be in their best interests to be separately represented d.vi. IB 3.6 only acting for clients who are sophisticated users of legal services e. IB 3.9 cannot advise a client to invest in a business in which you have an interest f. IB 3.13 Cannot act for two buyers competing for same residential property
2. Confidentiality a. Principal 4 must act in the best interests of the client b. Outcome 4.1 must keep the affairs of clients & former clients confidential c. Outcome 4.2 must disclose to a client all material information that you personally know c.i. Information will be material if it might impact upon a client's decision making process in the current matter
d. Outcome 4.3 the duty of confidentiality overrides the duty of disclosure d.i. IB 4.5 Do not act for a client where you hold confidential information of another client which is material to the first client unless the confidential information can be protected
e. Outcome 4.4 Where you want to act for A, where A has an interest adverse to B and B is a former client, even if you hold confidential information for B that is material for A, you can still act for A if the information can be protected by safeguards PROVIDED e.i. You reasonably believe that A understands that you are going to act for them but you are not going to tell them the information related to B e.ii. A must give informed consent e.iii. Either
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