The Gazette 1967/71

Eunan McCarron, Brendan A. McGrath, Dan

O'Gonnor, Augustus Cullen, Peter E. O'Connell,

Thomas Jackson, John Garrigan.

The following was among the business trans

acted :

Personal undertaking—"Net proceeds of sale"

A solicitor gave an undertaking to another solici

tor on behalf of a creditor of his client that the

amount of the creditor's claim would be paid

from the net proceeds of sale. The solicitor had

in his client account a sum of £1,500 at the date

of the undertaking, and the amount due to the

company was ascertained at £1,435 3 9. It was

subsequently ascertained that the deposit receipt

had earned interest amounting to £30 16 9. Costs

were also incurred by the creditor company and

due to their own solicitors. A question arose as to

whether the creditor company was entitled

receive the amount of the interest in addition to

the amount of the deposit and to pay thereout

their claim and the costs of their own solicitor.

The Council on submission

to arbitration held

that the term "net proceeds of sale" did not

include interest on deposit receipt. The solicitor

who gave the undertaking was not responsible to

pay the interest to the creditor, but was accoun

table to his own client therefor.

Conflict of interest:

Member acted for vendor and purchaser of pro

perty sold. The vendor resides

the United

States. During the course of the transaction the

vendor sought to withdraw, stating that time was

the essence of

the contract, and

that the

purchaser's failure to complete by a specified date

entitled him to annul the agreement. Member who

did not agree with his view, stated that the vendor

would probably refuse to complete. He sought the

Society's guidance as to whether he is entitled to

act for the purchaser in an action for specific

performance against

the vendor. The Council

stated that if litigation develops, member would

not be entitled

to act for either party having

regard to the confidential relationship in which he

stood towards each client.

Retainer:

In answer to an enquiry by a member, the Coun

cil stated that a retainer is a fee paid to ensure a

first claim on the services of the solicitor. It is

charged in addition to the proper fee for work

done in a particuoar case. The Council recom

mend that the retainer should be (a) reasonable,

(b) agreed in advance and embodied in a written

contract between the solicitor and the client.

Commission scale fee and administration

In reply

to an enquiry from members as

whether the commission scale fee includes

the

costs of having a personal

representative regis

tered

the Land Registry as

the owner of

premises which form part of

the estate of

the

deceased. The Council state that the commission

scale fee is only a guide and

in considering

whether fees should be charged for any special

work in addition to the commission scale fee the

question is whether the commission scale fee plus

the additional fees would tax.

Costs of probate—meaning of value

A member enquired whether the fees laid down

by Part 5 of appendix W of the rules of the

Superior Courts for extraction of probate under

seal etc., calculated by reference to value are to

be charged om the artificial value of registered

land or on market value. The artificial value

sworn for probate

rateable valuation multi

plied by fifty. The further question arose as

whether the Society's circular recommending 3

commission scale fee for administration of assets

is to be calculated on the artificial value or the

market value of registered land. The Council on

report of the committee stated that the scale fee

for extracting etc. under Part 5, appendix W of

the Rules of the Superior Courts is chargeable on

the value as

sworn for probate

i.e.

rateable

valuation + fifty. If the unofficial commission

scale recommended by the Council is applicable

it is chargeable on market value.

Particulars Delivered

The Council in reply to an enquiry stated that the

P.D. stamp does not affect the validity of a deed

or its registration once it has been registered. If

the Registrar of Titles accepts a transfer without

the P.D. form the parties are not concerned. The

solicitor is entitled to charge for all work neces

sarily done. The necessity does not arise in the

case of registered land if the Registrar of Titles

accepts a transfer without the P.D.

form

the

parties are not concerned. The solicitor is entit

led to charge for all work necessarily done. The

necessity does not arise in the case of registered

land if the Registrar of Titles accepts the deed

for registration without

the P.D.

stamp. The

position would be otherwise if a building society,

chargee or any other party entitled insist on the

P.D. stamp.

DUBLIN SOLICITORS' BAR ASSOCIATION

The Dublin Solicitors' B

ar Assoc

iation at their

Annual General Meeting

held.on

the 16th-Octo-