Legal Question in Legal Ethics in Michigan

sale of corporation to relatives

Is it legal or a conflict of interest for a

attorney to represent both the seller

and the buyers of a family owned

corporation it also included a DBA with

assets( with a 10 year buy out

schedule)


Asked on 7/14/08, 10:27 pm

1 Answer from Attorneys
Audra Arndt Audra A. Arndt & Associates, PLLC

Re: sale of corporation to relatives

Not if both sides consent and the attorney advises them of a potential conflict and the parties agree to have one lawyer handle the work. If a dispute does arise, however, the lawyer should not withdraw from representing either party, since he would have knowledge that could be used against either party and is a conflict.

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Answered on 7/22/08, 8:14 pm


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