Interest Earned on Lawyers Trust Accounts

Lawyers in Australian Society ? Assignment 1. The following get along forget discuss the ethical use of cuss accounts and the view that these accounts earn. It provide examine who this interest belongs to. Two ethical theories will be employed to analyse this moral and ethical dilemma, the theories field the teleological and deontological approaches to moral decision making as discussed by moral philosopher Thomas Aquinas. Any money so rule-governedor?s receive on a client?s behalf is held one by one from the solicitors? general office account and will be deposited in a general want account and held under trust . A scheme was tempered up within Australia to see that the interest earned on the trust accounts? went to worthwhile causes. Australian Interest on Lawyers Trust Fund Accounts (IOLTA) schemes is now divulge in the funding base for effectual charge and the licit commerce infrastructure. The IOLTA fund a range of programs, which ar shackle in to the pra ctice or administration of practice of law. The programs include: community statutory centres; university and community juristic education; practical sound provision programs; continuing legal education for practitioners; law clear up; legal research; promotion of access to justice; legal profession regulation; law society objections in access proceeding; investigations into practitioners? conduct and disciplinary proceedings; maintenance of law libraries; and matter of legal works.

In addition to these programs the Solicitor?s fidelity Fund was established by The Legal Practitioners characterization 1898 ( Cth). fidelity pecuniary resource are fund! s set up to withhold those who have lost money as a payoff of a solicitor?s misappropriation of funds . fidelity fund contributions are compulsory as outlined in the Model Bill and the Legal Professions guess 2004 (NSW). Fidelity Funds remain the major recipients of IOLTA; however IOLTA too goes towards, legal aid and legal programmes. Many legal professionals are under the imprint that the removal of... If you want to get a full essay, instal it on our website: OrderCustomPaper.com

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