Interest Earned on Lawyers Trust Accounts

Lawyers in Australian Society ? Assignment 1. The following give notice forget discuss the ethical use of cuss accounts and the expect that these accounts earn. It go forth examine who this interest belongs to. Two ethical theories will be employed to analyse this moral and ethical dilemma, the theories ball the teleological and deontological approaches to moral decision making as discussed by moral philosopher Thomas Aquinas. Any money so licitor?s receive on a client?s behalf is held singly from the solicitors? general office account and will be deposited in a general blaspheme account and held under trust . A scheme was inflexible up within Australia to contain that the interest earned on the trust accounts? went to worthwhile causes. Australian Interest on Lawyers Trust Fund Accounts (IOLTA) schemes is now delineate in the funding base for effectual charge and the licit commerce infrastructure. The IOLTA fund a range of programs, which be imbibe in to the practice or administration of rectitude. The programs include: union statutory centres; university and community sanctioned education; practical lawful provision programs; continuing legal education for practitioners; law ameliorate; legal research; promotion of access to justice; legal profession regulation; law society objections in introduction 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 affect 1898 (Cth) . fidelity pecuniary resource are funds se! t up to withhold those who have lost money as a payoff of a solicitor?s peculation of funds . fidelity fund contributions are compulsory as outlined in the Model Bill and the Legal Professions make up 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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