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Contingency Fee Agreement with an Attorney or Law Firm

Contingent Contract With Case Law In Bronx

Q: What is contingent basis?

The term &quot;contingency&quot; refers to the fact that the payment is dependent on the successful completion of the agreed-upon task, such as a court case or a business deal.

Q: What is contingent contract in simple words?

A &quot;contingent contract&quot; is a contract to do or not to do something, if some event, collateral to such contract, does or does not happen.

Category:

Attorneys - Fee Agreements

State:

Multi-State

County:

Bronx

Control #:

US-00442BG

Format:

Instant download

Description

The Contingent Contract, specifically designed for clients engaging attorneys in Bronx, outlines the agreement between a client and their attorneys regarding representation, particularly in wrongful termination cases. The form specifies the contingency fee structure based on the outcome of the claim, detailing the percentages owed to attorneys depending on whether the matter is settled pre-trial, during trial, or after an appeal. It includes provisions for covering reasonable costs and expenses incurred by the attorneys, including expert witnesses and investigative costs, which the client agrees to reimburse. The contract also establishes attorney liens on settlements to secure payment for services rendered. Key features include the ability for attorneys to withdraw from the case and how their fees are handled in such circumstances. This agreement serves as a vital tool for attorneys and legal professionals by ensuring clear engagement terms, outlining responsibilities and liabilities, and documenting the client's consent for various legal actions. It is indispensable for attorneys, partners, and legal assistants in managing client relationships and ensuring compliance with legal standards.

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FAQ

The average contingency rate falls between 20-40%, with most lawyers charging around 33% to 35% of the total amount recovered in a case. The exact percentage can vary depending on the complexity of the case, the lawyer's experience, and the stage at which the case is resolved.

The term "contingency" refers to the fact that the payment is dependent on the successful completion of the agreed-upon task, such as a court case or a business deal.

One a judgment is entered based on a COJ it can be enforced just like any other judgment. In addition, it can be domesticated in other states as a New York judgment.

The Satisfaction of Judgment form must be filed in the Court that entered the judgment, but if a Transcript of Judgment was filed in the County Clerk's office, it must be filed there; and. Mail a copy of the Satisfaction within 10 days to the debtor; and.

The requirements are as follows: Notarized Affidavit of Defendant. Stating Sum for Which Judgment May be Entered. State County of Residence or Where Entry Authorized. State Facts Out of Which Debt Arose. Contingent liability. Entry of judgment.

Contingent means that an event may or may not occur in the future, depending on the fulfillment of some condition that is uncertain. This term is often used in contracts where the event will not take effect until the specified condition occurs.

A "contingent contract" is a contract to do or not to do something, if some event, collateral to such contract, does or does not happen.