Client Intake — Due Diligence — Liability to Parties Other than Client — Holding Funds in Trust -
P&P Property Ltd. V. Owen White & Catlin LLP, et al. 2016 WL 05484797 (English High Ct. of Justice, Chancery Div. 2016) -
Risk Management Issue: What steps should a law firm take to confirm the identity of a new client and the details of the underlying transaction? How can the law firm protect itself from liability to other parties in the transaction when the client or the transaction turns out to be fraudulent?
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