New York Contingent Fee Contract to Employ Attorney with Retainer and Hourly Fee in Case Representation is Terminated

• Category: Contracts - Attorney
• State: Multi-State
• Control #: US-0999BG
• 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. A New York Contingent Fee Contract to Employ Attorney with Retainer and Hourly Fee in Case Representation is Terminated is a legally binding agreement between a client and an attorney in New York State. This type of contract outlines the terms and conditions for legal representation in a case where the client agrees to pay the attorney based on a percentage of the settlement or judgment received. The contract starts with a retainer fee, which is a lump sum payment made by the client to the attorney at the beginning of the case. This fee is typically non-refundable and compensates the attorney for their initial work, preparation, and case assessment. It ensures that the attorney commits their time, expertise, and resources to the client's legal matter. In addition to the retainer fee, the New York Contingent Fee Contract also includes an hourly fee clause. This allows the attorney to bill the client for their services on an hourly basis if the case is terminated before a settlement or judgment is reached. Hourly fees typically cover the attorney's additional time spent on research, negotiations, court appearances, and any other activities related to the case. If the representation is terminated without reaching a settlement or judgment, the New York Contingent Fee Contract may include three different types or scenarios: 1. Termination by Client: If the client decides to terminate the attorney's representation before the case is resolved, the contract might outline the client's obligations to pay the attorney for both the initial retainer fee and any accrued hourly fees up until the termination date. 2. Termination by Attorney: If the attorney decides to terminate the representation due to non-payment, unethical behavior, or other valid reasons, the contract may specify whether the attorney is entitled to any compensation for the work performed up to the termination date. It can also address potential damages or penalties for breaching the contract. 3. Termination by Mutual Agreement: In some cases, the client and attorney may mutually agree to terminate the representation. The contract will define the terms and conditions for ending the attorney-client relationship and determine the client's financial responsibilities, including the payment of any pending hourly fees or additional costs incurred. It's essential for both clients and attorneys to carefully review and discuss the New York Contingent Fee Contract to ensure a comprehensive understanding of their obligations, rights, and the potential outcomes in case the representation is terminated. Seeking legal advice or consultation before signing the contract can help protect both parties' interests and ensure a fair and equitable agreement.

A New York Contingent Fee Contract to Employ Attorney with Retainer and Hourly Fee in Case Representation is Terminated is a legally binding agreement between a client and an attorney in New York State. This type of contract outlines the terms and conditions for legal representation in a case where the client agrees to pay the attorney based on a percentage of the settlement or judgment received. The contract starts with a retainer fee, which is a lump sum payment made by the client to the attorney at the beginning of the case. This fee is typically non-refundable and compensates the attorney for their initial work, preparation, and case assessment. It ensures that the attorney commits their time, expertise, and resources to the client's legal matter. In addition to the retainer fee, the New York Contingent Fee Contract also includes an hourly fee clause. This allows the attorney to bill the client for their services on an hourly basis if the case is terminated before a settlement or judgment is reached. Hourly fees typically cover the attorney's additional time spent on research, negotiations, court appearances, and any other activities related to the case. If the representation is terminated without reaching a settlement or judgment, the New York Contingent Fee Contract may include three different types or scenarios: 1. Termination by Client: If the client decides to terminate the attorney's representation before the case is resolved, the contract might outline the client's obligations to pay the attorney for both the initial retainer fee and any accrued hourly fees up until the termination date. 2. Termination by Attorney: If the attorney decides to terminate the representation due to non-payment, unethical behavior, or other valid reasons, the contract may specify whether the attorney is entitled to any compensation for the work performed up to the termination date. It can also address potential damages or penalties for breaching the contract. 3. Termination by Mutual Agreement: In some cases, the client and attorney may mutually agree to terminate the representation. The contract will define the terms and conditions for ending the attorney-client relationship and determine the client's financial responsibilities, including the payment of any pending hourly fees or additional costs incurred. It's essential for both clients and attorneys to carefully review and discuss the New York Contingent Fee Contract to ensure a comprehensive understanding of their obligations, rights, and the potential outcomes in case the representation is terminated. Seeking legal advice or consultation before signing the contract can help protect both parties' interests and ensure a fair and equitable agreement.