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Even this limited information, however, should be disclosed only to the extent reasonably necessary to detect and resolve conflicts of interest that might arise from the possible new relationship. True When Angelica presented a counteroffer rather than an acceptance, Byron became livid. B) Such a charge can arise in a civil, criminal, disciplinary or other proceeding and can be based on a wrong allegedly committed by the lawyer against the client or on a wrong alleged by a third person, for example, a person claiming to have been defrauded by the lawyer and client acting together. Any other possible disclosure. Common sources for conflict are compensation structures, especially incentive and bonus structures that provide immediate returns for members and candidates with little or no consideration of long-term value creation. False, Texas law requires that a homicide on the property be disclosed, but the agent is NOT required to disclose a death by natural causes. A license holder has no duty to disclose such information. Whether a lawyer may be required to take additional steps in order to comply with other law, such as state and federal laws that govern data privacy, is beyond the scope of these Rules. When members or candidates providing investment services also serve as directors, they should be isolated from those making investment decisions by the use of firewalls or similar restrictions. Functional cookies, which are necessary for basic site functionality like keeping you logged in, are always enabled. False, The agent can assist the seller by filling in the blanks of the Seller's Disclosure Notice. [3]The principle of client-lawyer confidentiality is given effect by related bodies of law: the attorney-client privilege, the work product doctrine and the rule of confidentiality established in professional ethics. A) A REALTOR does not need to disclose the following material adverse facts: Those a buyer could discover through a reasonably diligent inspection, Those facts whose disclosure is prohibited by law, Those that are known to a person who conducts an inspection on behalf of the party26. Investment advice or actions may be perceived to be tainted in numerous situations. If a member, a candidate, or a members or candidates firm has outstanding agent options to buy stock as part of the compensation package for corporate financing activities, the amount and expiration date of these options should be disclosed as a footnote to any research report published by the members or candidates firm.