contingent fee agreement definition
contingent fee agreement means an agreement which provides that a member’s remuneration for services to be provided for or on behalf of a client is contingent, in whole or in part, on the successful disposition of the matter in respect of which the services are provided;
contingent fee agreement means an agreement for the provision of legal services by an attorney under which the compensation of the attorney is contingent, in whole or in part, upon a judgment being rendered in favor of or a settlement being obtained for the client and is either a fixed amount or an amount to be determined by a specified formula, including, but not limited to, a percentage of any judgment rendered in favor of or settlement obtained for the client.
contingent fee agreement means an agreement that provides that payment to the lawyer for services provided depends, at least in part, on the happening of an event;
More Definitions of contingent fee agreement
contingent fee agreement means a fee agreement that provides that payment to the lawyer for services depends, in whole or in part, on the successful disposition of the matter in respect of which the services are provided; « convention d’honoraires conditionnels »
contingent fee agreement means a written agreement for legal services of an attorney or attorneys (including any associated counsel), under which compensation is to be contingent in whole or in part upon the successful accomplishment or disposition of the subject matter of the agreement.
contingent fee agreement means a contract under which an attorney may be compensated for work in progress, dependent on the occurrence of some future event which is not certain and absolute. As such, a contingent fee agreement is not an asset, but is potential income or income capacity. This potential income may have current value, and a portion of that current value, if any, may be considered to be a marital asset. In the event a party seeks to quantify the current value of a particular contingent fee agreement for the purpose of establishing the value of the agreement as marital property, the court must find that the party has proved such value by a preponderance of the evidence. Factors to be considered by the court include, but are not limited to, the following:
(1) The nature of the particular case or claim which underlies the agreement;
(2) The jurisdiction or venue of any projected trial or proceeding;
(3) Any historical data relevant to verdicts or settlements within the jurisdiction where the case or claim is pending or may be brought;
(4) The terms and particulars of the agreement;
(5) The status of the case or claim at valuation date;
(6) The amount of time spent working on the case or claim prior to the valuation date, and an analysis of the nature of how that time was spent, including, but not limited to, such activities such as investigation, research, discovery, trial or appellate practice;
(7) The extent of the person's active role in the work in process, whether as an actual participant or as an indirect participant such as a partner, local counsel or other ancillary role;
(8) The age of the case or claim;
(9) The expenses accrued or projected to bring the case or claim to resolution, including any office overhead attributable to case or claim; and
(10) The probable tax consequences attendant to a successful resolution of the case or claim.
contingent fee agreement means an agreement for the provision of testimony or other evidence and related services by an expert witness in a civil action that specifies: