Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

. Jim Bobb, Esq. accepted a $90,000 settlement offer on behalf of his client, Betty Lew. The payment is to be split equally by the

. Jim Bobb, Esq. accepted a $90,000 settlement offer on behalf of his client, Betty Lew. The payment is to be split equally by the co-defendants, Dave's Texas Red Hots and Root-Tootin' Root Beer. Jim Bobb's fee agreement entitles his firm to 30% of the settlement, or $27,000. His office receives a $45,000 check from Dave's Texas Red Hots and promptly deposits it into his Client Trust Account. He informs Betty Lew of receipt and deposit of the funds, and also informs her of certified confirmation from Root-Tootin' Root Beer that their payment will be delivered within 14 days. Betty Lew demands that Jim Bobb send her the entire amount received from Dave's, and to take his fee from the remaining funds when they arrive from Root Tootin' Root Beer.

Of the following actions, which could Jim Bobb properly undertake:

Send Betty Lew the demanded $45,000.

Send Betty Lew $31,500 and hold $13,500 in the Client's Trust Account

Send Betty Lew $31,500 and transfer $13,500 to his personal account.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Company Law

Authors: Janet Dine, Marios Koutsias

9th Edition

1352010003, 978-1352010008

More Books

Students also viewed these Law questions

Question

Explain the relationship between language and culture

Answered: 1 week ago

Question

Compare and contrast elaborated and restricted codes

Answered: 1 week ago