Sunday, December 2, 2007

Double Check Before Writing Check

The South Carolina Supreme Court imposed a reprimand by consent in a matter where the attorney had  disbursed funds from escrow in connection with a real estate refinancing. Unfortunately, the covering funds had been wired to the attorney's former escrow account, and the attorney had not made sure the funds had been received prior to the disbursement. The matter underscores the strict liability nature of the duty to keep safe entrusted funds. (Mike Frisch)

http://lawprofessors.typepad.com/legal_profession/2007/12/double-check-be.html

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