Roslyn's Company Has Retained Sheps & Shaps Llp with Regard
Roslyn's company has retained Sheps & Shaps LLP with regard to its purchase of some vacant land. Sheps & Shaps LLP will include its fee and estimated disbursement in the calculation of the closing costs and render its bill when all its responsibilities have been met. In this instance, what defines these terms of the retainer relationship set out above?
A) contractual terms
B) fiduciary duties
C) code of ethics
D) statutory implied terms
A professional service contract should provide for unseen developments during the course of the contract. In so doing, which of the following questions will be addressed?
A) How frequently will the client be contacted?
B) How will risk be allocated?
C) How will fees be charged?
D) What expertise is required for the work?
What will be the result if ImaBigPharma Inc. links the fees for the external services of a lawyer to subjective factors?
A) The lawyer will be offering value-based legal services.
B) The lawyer will be charging flat fees for ad hoc work.
C) The lawyer will see increased billable hours.
D) The lawyer will offer favourable payment terms.
A fiduciary is required to act primarily in the interests of the person to whom a responsibility is owed. Which of the following notions captures the concept of that requirement?
A) good faith and due care
B) loyalty and trust
C) honour of profession
D) due diligence and honesty