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Review Your SQE 1 Practice Records

Examination Timing: 00H00M07S

A solicitor receives a cheque for £10,000 from a client intended for an upcoming property transaction. According to the SRA Accounts Rules, where should this cheque be deposited?

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The cheque should be deposited into a client account. The SRA Accounts Rules mandate that client money be kept separate from the firm's business funds to ensure it is properly managed and protected. Key Point: Depositing client money into a client account ensures compliance with the SRA Accounts Rules and safeguards client funds.

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