Missouri Contract to Employ Attorney on a Contingent Fee Basis with Retainer

• Category: Contracts - Attorney
• State: Multi-State
• Control #: US-0994BG
• Format: Word; Rich Text

Description

Contingency fees are an arrangement for payment for an attorney's services, in which the attorney is paid out of the recovery awarded to the client. Contingency fees are usually between a fourth and a third of the amount awarded. If the client doesn't recover, no fee is owed. Contingent fees are commonly arranged in personal injury cases and may allow persons to hire a lawyer when they could otherwise not afford to pay hourly rates. In some states the percentage (or the maximum percentage) that a lawyer may charge by way of a contingency fee is set by law. Contingent fees are not allowed in criminal matters and rarely permitted in family law cases. They are also referred to as contingent fees.

Missouri Contract to Employ Attorney on a Contingent Fee Basis with Retainer: Understanding the Essentials Introduction: A Missouri Contract to Employ Attorney on a Contingent Fee Basis with Retainer is a legal agreement between a client and an attorney in Missouri, where the attorney agrees to take on a specific case or legal matter on a contingent fee basis, supplemented by the payment of a retainer. Types of Missouri Contracts to Employ Attorney on a Contingent Fee Basis with Retainer: 1. Personal Injury: This type of contract is commonly used for cases involving personal injury, such as accidents, medical malpractice, or product liability claims. The attorney agrees to take the case on a contingent fee basis, meaning they will only receive payment if they successfully recover compensation for the client. A retainer is often required to cover initial expenses. 2. Employment Law: In employment law cases, such as wrongful termination, discrimination, or wage disputes, clients may enter into a contract with an attorney on a contingent fee basis with retainer. The attorney will handle the case and obtain payment based on the outcome, while a retainer ensures immediate representation and covers initial expenses. 3. Class Action Lawsuits: In class action lawsuits, where a group of individuals collectively sues a defendant, a Missouri Contract to Employ Attorney on a Contingent Fee Basis with Retainer might be established. The attorney represents the entire class and agrees to a contingent fee arrangement, while a retainer is obtained to cover preliminary costs. Key Elements of the Contract: 1. Scope of Representation: The contract should clearly define the specific legal matter or case the attorney will handle on the client's behalf. 2. Contingency Fee Structure: The contract should outline the fees payable to the attorney if they succeed in obtaining a favorable outcome. Typically, this fee is a percentage of the amount recovered or awarded. 3. Retainer Fee: The contract should state the retainer amount, which serves as an upfront payment to cover initial costs, such as legal research, filing fees, and expert witnesses. 4. Expenses: The contract should specify whether additional expenses, such as travel costs, court fees, or other disbursements, will be covered by the client or deducted from the amount recovered. 5. Termination Clause: The contract should include provisions allowing either party to terminate the attorney-client relationship in certain circumstances, such as non-payment, failure to cooperate, or the attorney's inability to represent the client adequately. Conclusion: A Missouri Contract to Employ Attorney on a Contingent Fee Basis with Retainer provides a legal framework for clients to secure legal representation without incurring upfront costs. Understanding the different types of contracts and key elements within them is crucial for clients seeking legal assistance in Missouri. It is advisable to consult with an experienced attorney to ensure the contract reflects the specific needs of the case and protects the interests of both parties involved.