Committee on Professional Ethics and Conduct of Iowa State Bar Association v. Mershon
Iowa Supreme Court
316 N.W.2d 895 (1982)
Relevant factsFree
Attorney Robert Mershon (defendant) formed a development company with his farmer client Miller and an architect, contributing a promissory note for future legal services in exchange for stock tied to his fee, while Miller contributed his own land; the venture failed to secure financing and collapsed after Miller's death. The Iowa Bar Grievance Commission (plaintiff) reprimanded Mershon for never obtaining Miller's fully informed consent to the arrangement, and Mershon appealed.
IssueFree
Whether, in Iowa, an attorney must obtain a client's informed consent before entering into a business transaction with the client.