Ontario Barrister and Solicitor Practice Exam

Disable ads (and more) with a membership for a one time $2.99 payment

Master the Ontario Barrister and Solicitor Exam with our comprehensive practice quiz. Tailored to the latest syllabus, it's the perfect tool to assess your readiness and ensure success.

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

Practice this question and more.

Who has liability if a bank releases funds to an attorney under a power of attorney that has been revoked?

The attorney
The bank, if it had notice of the revocation
The bank, but it is protected if it had not received notice of revocation
The person who revoked the power of attorney

The correct answer is: The bank, but it is protected if it had not received notice of revocation

When a power of attorney is revoked, the person who originally granted the power has terminated the authority given to the attorney. However, in the case where a bank releases funds to the attorney after the power of attorney has been revoked, the bank may still be held liable for releasing the funds if they had received notice of the revocation. In this scenario, the bank may be protected from liability if they had not received notice of the revocation. Therefore, the correct answer is C, the bank is liable but may be protected without prior knowledge of the revocation. The other options are incorrect because the attorney may not be liable as the power of attorney has been revoked, and the person who revoked the power may not be liable in this specific situation.