The Gazette 1971

Society of Young Solicitors Maurice Curran has been elected as Chairman of the Society for 1971-72, Derek Greenlee as Hon. Treasurer and Anne O'Toole as Secretary. Autumn Seminar

speakers will be Mr. Stanley Crossick, Secretary of the European Group of the English Law Society, Mr. John Gemple Lang, author of The Common Law and The Common Market and at least one lawyer from the Continent. This will be a full two day seminar and will differ substantially from previous seminars. Attend- ance at the seminar will be limited to 200. Full details will be available by the time this Gazette is published.

A Seminar on the Practical Implications for the Solicitor of Ireland joining the Common Market will be held on Saturday/Sunday the 6th/7th November 1971 at the Talbot Hotel, Wexford. Amongst the

Undertakings by Solicitors to Banks A common form of undertaking used by banks making bridging loans to customers for the purpose of purchas- ing property requires the solicitor for the purchaser or intending purchaser to hold the title deeds of the pro- perty on trust for the bank and to hand them over with all other deeds necessary to show that the purchaser is absolutely entitled to the property in possession free from all charges or incumbrances as soon as the con- veyance shall have been registered. A solicitor by sign- ing this undertaking makes himself personally account- able in law for any failure to carry it out and the undertaking takes priority over his lien for the costs due by the client in connection with the purchase or other- wise. The undertaking further amounts to a guarantee that the client will be entitled to the property in possession free from all charges or incumbrances so that the solicitor in additional to his personal liability for negligence to the client assumes a personal liability for any loss or damage suffered by the bank. If the solicitor for the purchaser is also solicitor for the bank and re- ceives professional remuneration from the bank for in- vestigating the title on their behalf the undertaking as to the title amounts to no more than the ordinary pro- fessional obligation of a solicitor to a client to transact his business properly. If a solicitor is acting merely for the purchaser and not for the bank it would seem that he is being asked to accept a voluntary liability towards the bank to which he is not under any other contrac- tual or professional liability. It would therefore seem that such undertakings ought to be amended to exclude any obligation by the solicitor other than to hold the deeds on trust for the bank with such title as the docu- ments may create. If the solicitor wishes to preserve his lien for costs due by the client the undertaking will re- quire further amendment. Opinion DR 14 (1) of the Council printed in the 1968 edition of the Members' Handbook states that where a solicitor gives an under- taking to lodge title deeds on behalf of a client with bankers on the completion of the purchase he is bound to carry out the undertaking although no provision was made for his costs. EAP

XEROX 720 FAST COPYING SERVICE FOR MEMBERS Any book or document size up to and including 14$" x 9$" in print, typescript or manuscript copied at the counter on ordinary white office paper. Larger documents can be copied in section. Library service: extracts from law reports will be supplied. As certain law reports are copyrighted copies are for the use of members, counsel and their clients exclusively. Probate ingrossments with Xerox facsimile copies of wills are accepted by the Probate Office. THE INCORPORATED LAW SOCIETY OF IRELAND, SOLICITORS' BUILDINGS, FOUR COURTS, DUBLIN 7 Phone: 784533.

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