Review the following case studies each of which involves a trust account transaction. For each, explain who in the scenario has the responsibility for doing what in relation to the trust transaction.

a) Kathy, a sales representative conducts a really successful home open. Bob & Mildred are very keen and ask Kathy to come straight to their place this afternoon so they can write up an offer. Kathy follows them home and writes up what she considers to be a great offer with a $10,000 deposit. Bob disappears for two minutes and returns with $10,000 in cash.

b) Cyril is a tenant who has received a water consumption bill from his property manager. Cyril hates banks and keeps his cash under his bed. Cyril drops into the office with $100 in cash to pay the bill.

c) Stuart has been struggling to hold a sale together for close to two weeks. The buyers say they cant get finance approved but Stuart is not convinced. The buyers produce a letter from Fab Finance Brokers that says the bank wont lend the clients any money. Stuart is frustrated but he has had enough. He tells the office administrator to return the buyers deposit so that he can move on and get the property resold to a more serious buyer.