✅ The verified answer to this question is available below. Our community-reviewed solutions help you understand the material better.
Read the following scenario and select the correct option below.
Jane wants to sell her car to Saul for R 100 000. She asks her attorney to draft the contract of sale. Her attorney is willing to do so but requires a deposit of R10 000. After receiving the deposit of R10 000, the attorney drafts the contract of sale. Both Jane and Saul are happy with the contract and sign it. The contract requires that Saul pays the full purchase price of R100 000 into the attorneys’ trust account. After Saul pays the R100 000 to the attorney, the car is then transferred to Saul’s name. The contract of sale stipulates that Jane is responsible for all the legal costs. The attorney delivers the invoice to Jane for R5000 in legal fees and R500 for expenses (telephone calls and postage).
What is the total amount of money the attorney received in the trust account?