Commingling
Term · Law · MLC-T-LAW-001094
The act of mixing funds or property belonging to different parties, or mixing client funds with personal funds, in a way that makes them indistinguishable. This practice is generally prohibited for fiduciaries, such as lawyers or trustees, to prevent misuse or confusion of assets. It can lead to disciplinary action or legal liability.
| Identifier | MLC-T-LAW-001094 |
|---|---|
| Field | Law |
Record as JSON
{
"id": "MLC-T-LAW-001094",
"term": "Commingling",
"field": "Law",
"definition": "The act of mixing funds or property belonging to different parties, or mixing client funds with personal funds, in a way that makes them indistinguishable. This practice is generally prohibited for fiduciaries, such as lawyers or trustees, to prevent misuse or confusion of assets. It can lead to disciplinary action or legal liability.",
"url": "https://mlchart.com/terminology/law/commingling/"
}
Record 924 of 5,441 in Law terminology (MLC-0107). Request the full dataset.