Zee's wrongdoing would not be imputed to Alpha because of the adverse interest
The tax is imposed on the sale price for arm's-length transfers because the real estate transfer tax--known as the REIT--assumes that, given the adverse interests
of the buyer and seller, the agreed-upon sale price accurately reflects the value of the property being sold.
Although not trained in the law or legal ethics, I do understand that an attorney is prohibited from advising two clients with potentially adverse interests
," Hegarty wrote, further distancing himself from Frederick.
Arm's-length terms: The terms with respect to the debt-for-equity transfer must be comparable to those that would be agreed to by unrelated parties negotiating with adverse interests
Board members should be free of adverse interests
, conflicting duties, or inconsistent obligations that may interfere or appear to interfere with the proper administration of the board's mandate from the court.
7) The Code of Legal Ethics early recognized that one attorney cannot be a fiduciary to or a representative of adverse interests
Lawyers may not represent two clients with adverse interests
, even on unrelated matters.
In such instances, the CPA seeks to resolve potentially adverse interests
by developing the parties' mutual interests.
The comment recognizes that lawyers may help resolve potentially adverse interests
by developing the parties' mutual interests and recognizes clients may prefer that one lawyer act for all of them.
The clients, however, may have adverse interests
and the CPA should not provide services to the shareholder who is considering leaving the corporation without obtaining a waiver of the conflict of interest.
You may not represent adverse interests
in the same transactions," she said.
Under those circumstances, "it's very evident that they now have materially adverse interests