Attorney Sammy Sleaze has a law practice. He has an operating account and a trust account. He
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Question:
Attorney Sammy Sleaze has a law practice. He has an operating account and a trust account. He needs money so he decides to take money from the trust account and put it in his operating account. Can he do this?
Yes, if he writes a note saying he is taking the money from the trust account.
Yes, because this is commingling of funds.
Yes, if the money in the trust account is a refundable retainer.
Yes, if the money in the trust account is a nonrefundable retainer.
Related Book For
Foundations of Financial Management
ISBN: 978-1259024979
10th Canadian edition
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen, Doug Short, Michael Perretta
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