Crucial Exams

Multistate Professional Responsibility Exam Practice Question

Lee represents a client, Elena, in licensing matters. Lee proposes that they jointly purchase commercial equipment. Lee drafts the sales contract himself and builds in interest fees that will benefit his investment. Elena signs without being urged to consult another attorney. Which statement accurately describes Lee's professional-responsibility obligations in this situation?

  • Lee does not violate any rules by simply splitting costs with Elena.

  • Lee may rely on Elena's verbal agreement once he explains the terms; written consent and advice to seek separate counsel are not required.

  • Lee's smaller financial contribution to the contract relaxes his disclosure obligations.

  • Lee must ensure that the terms are fair, fully disclosed in writing, advise Elena to consider independent counsel, and obtain her informed written consent before proceeding.

Multistate Professional Responsibility Exam
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