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A firm of solicitors is acting on behalf of a client who is selling their property and purchasing a new property. A deposit of £35,000 has been received from the buyer's solicitor in respect of the sale and is held as stakeholder. The firm of solicitors has not sent a bill of costs to the client yet.Which one of the following best explains whether the £35,000 is client money?A. Yes, it is client money.B.No, it is not client money because it has been received from a third party and not from the client.C.No, it is not client money because it is held as stakeholder and has not been released to the client.D.No, it is not client money because a bill of costs has not been sent to the client.E.No, it is not client money because it has been received by the firm of solicitors and not by the client.
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