MPRE Test Bank 2024 Over
500 Actual Questions and
Answers 100% Verified;(Full
solution pack for all versions)
MPRE
,MPRE Test Bank 2024 Over 500
Actual Questions and Answers
100% Verified;(Full solution pack
for all versions)
1. Conglomerate Corporation owns a little more than half the stock of Giant
Company. Conglomerate's stock, in turn, is public, available on the public
stock exchange, as is the remainder of the stock in Giant Company. The
president of Conglomerate Corporation has asked Attorney Stevenson to
represent Giant Company in a deal by which Giant would make a proposed
transfer of certain real property to Conglomerate Corporation. The property
in question is unusual because it contains an underground particle collider
used for scientific research, but also valuable farmland on the surface, as
well as some valuable mineral rights in another part of the parcel. These
factors make the property value difficult to assess by reference to the
general real-estate market, which means it is difficult for anyone to
determine the fairness of the transfer price in the proposed deal. Would it
be proper for Attorney Stevenson to facilitate this property transfer at the
behest of the president of Conglomerate, if Attorney Stevenson would be
representing Giant as the client in this specific matter?
a) Yes, because Conglomerate Corporation owns more than half of Giant
Company, so the two corporate entities are one client for purposes of the
rules regarding conflicts of interest.
b) Yes, because the virtual impossibility of obtaining an appraisal of the
fair market value of the property means that the lawyer does not have
actual knowledge that the deal is unfair to either party.
c) No, because the attorney would be unable to inform either client fully
about whether the proposed transfer price would be in their best interest.
d) No, not unless the attorney first obtains effective informed consent of the
management of Giant Company, as well as that of Conglomerate, because
the ownership of Conglomerate and Giant is not identical, and their
interests materially differ in the proposed transaction. - d) No, not unless
the attorney first obtains effective informed consent of the management of
Giant Company, as well as that of Conglomerate, because the ownership of
,Conglomerate and Giant is not identical, and their interests materially differ
in the proposed transaction.
RESTATEMENT § 131
2. Mr. Burns, the chief executive officer of Conglomerate Corporation, now
faces criminal charges of discussing prices with the president of a
competing firm. If found guilty, both Mr. Burns and Conglomerate
Corporation will be subject to civil and criminal penalties under state and
federal antitrust laws. An attorney has been representing
, Conglomerate Corporation. She has conducted a thorough investigation of
the matter, and she has personally concluded that no such pricing
discussions occurred. Both Conglomerate Corporation and Mr. Burns plan to
defend on that ground. Mr. Burns has asked the attorney to represent him,
as well as Conglomerate Corporation, in the proceedings. The legal and
factual defenses of Conglomerate Corporation and Mr.
Burns seem completely consistent at the outset of the matter. Would the
attorney need to obtain informed consent to a conflict of interest from both
Mr. Burns and a separate corporate officer at Conglomerate Corporation
before proceeding with this dual representation?
a) Yes, the likelihood of conflicting positions
in such matters as plea bargaining requires the attorney to obtain the
informed consent of both clients before proceeding with the representation.
b) Yes, because it will always be in the best interest of a corporation to
blame the individual who acted in the situation, to avoid liability under
a theory of respondeat superior.
c) No, because their legal and factual assertions appear identical in this
case, so the risk of contradiction or adverse positions in the litigation is
de minimis.
d) No, because no one else at Conglomerate Corporation would be able to
provide effective consent to the potential conflict of interest on behalf of
the organization, if the chief executive officer has required the dual
representation to occur. - a) Yes, the likelihood of conflicting positions
in such matters as plea bargaining requires the attorney to obtain the
informed consent of both clients before proceeding with the representation.
RESTATEMENT § 131
3. An attorney decides to purchase "litigation cost protection" insurance for
matters she handles on a contingency fee basis. Plaintiffs' lawyers can buy
this type of insurance on a case-by-case basis, for a one-time premium
payment. The insurance is available for purchase up to three months after
the filing of the initial complaint. Note that this policy is separate and distinct
from malpractice liability insurance. The purpose of this type of insurance is
to reimburse the attorney for litigation costs advanced by the attorney - only
in the event of a trial loss. Do the Model Rules of Professional Conduct
prohibit the attorney from purchasing litigation cost protection insurance for
her contingency fee cases?
a) Yes, because the client and the attorney may have different cost-benefit
calculations.
b) Yes, for an attorney may prefer that his
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