A newly licensed lawyer sought to open her own practice of law. She did not have enough

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A newly licensed lawyer sought to open her own practice of law. She did not have enough resources to rent office space or to acquire the necessary office and computer equipment, so she asked her parents to help finance the law practice. The lawyer's parents provided a $150,000 loan to be repaid in 10 years, memorialized in writing, with the parents having no control over the law practice and not holding an equity interest in the firm. Is it proper for the lawyer to receive a $150,000 loan from her parents to finance the law practice, to be repaid in 10 years

Posted Date: May 18, 2024 09:13 AM

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A newly licensed lawyer sought to open her own practice of law. She did not have enough

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