Rule 1.8 deals with specific conflicts of interest. What is one requirement for business transactions with a client?

The requirement for business transactions with a client, as outlined in Rule 1.8 of the Model Rules of Professional Conduct, includes the necessity for the lawyer to provide full disclosure of all material facts related to the transaction and to obtain the client's informed consent. This provision safeguards the client's interests and ensures that they fully understand the implications of entering into a business arrangement with their lawyer, who is in a position of trust and may have insights that could affect the transaction.

Involving the client in the decision-making process and ensuring they are aware of any potential conflicts or risks fosters transparency and maintains the integrity of the attorney-client relationship. This requirement is crucial because it helps prevent exploitation of the client's reliance on the lawyer's professional judgment and assures that the client has given their voluntary and informed agreement to the transaction.