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FAC1503 ASSIGNMENT 4 FOR 2023 -Distinction Obtained
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FENDTUTORIALS
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FAC1503
ASSIGNMENT 4 FOR SEMESTER 1 2023
FEND TUTORIALS
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UNISA
2023
Semester 1
FAC1503-23-S1
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Assessment 4
Time left 0:43:42
Question 2
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An investment made in terms of section 86(3) of the LPA remain part of the entrusted
monies and are recorded as such in the trust accounting records of the legal practice. These
investments enjoy protection from the Legal Practitioners Fidelity Fund.
Select one:
True
False
Question 3
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A trust creditors’ account is opened for each client, as we owe the funds of the client when
they become due therefore, they are known as trust creditors.
Select one:
True
False
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The senior partner in the legal firm, SA Attorneys, instructed A South from West Attorneys
to act on his behalf in the matter between C Natal and E North. C Natal instituted a claim
against E North for damages incurred in an accident due to negligent driving. However,
before the case served before the court, the parties settled on an amount of R231 000
payable by E North to C Natal. E North immediately paid the amount into the trust bank
account of West Attorneys.
SA Attorneys received the following statement from West Attorneys at 31 May 2022:
Account statement
WEST ATTORNEYS
SA ATTORNEYS
PO Box 4000 PO Box 253
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Distribution of this document is illegal R13,625 per year?
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