If a Client File Is Misplaced or Lost, the

question 117

Multiple Choice

If a client file is misplaced or lost, the

• A) file can usually be easily replaced by an efficient paralegal.
• B) supervising attorney will take all the blame.
• C) client may suffer costly harm.
• D) None of these choices is correct.

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Definitions:

Preemptive Rights

A shareholder's right to buy new shares in a company before they are offered to the public, in order to maintain their proportional ownership.

New Issue

Financial securities (like stocks or bonds) that are publicly sold for the first time.

Shareholders

Individuals or entities that own shares in a corporation, giving them ownership interest and certain rights in the company.

Subrogation

The legal right for an insurer to pursue a third party that caused an insurance loss to the insured.