What Special Ethical and Tactical Concerns Must a Paralegal Be

question 113

Essay

What special ethical and tactical concerns must a paralegal be aware of when interviewing a client?

Calculate the correct amount of reported revenue for transactions involving unearned revenue.

Determine the book value of depreciable assets after accounting for depreciation expense.

Apply the concept of accrued interest on notes payable in adjusting entries.

Recognize the impact of adjusting entries on owner's equity.

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Definitions:

Voidable

A term referring to a valid agreement that may be legally declared invalid by one of the parties.

Mutual Mistake

A misunderstanding shared by all parties to a contract, causing a fundamental misbelief about a vital fact of the agreement.

Duress

The use of force, pressure, or threats to compel someone to act against their will or better judgment in concluding a contract or performing an act.

Improper Threats

Coercive actions or statements intending to force someone into an agreement or decision against their will, often considered unlawful.