Contingency In Law Terms In Cook

• Category: Attorneys - Fee Agreements
• State: Multi-State
• County: Cook
• Control #: US-00442BG
• Format: Word; Rich Text

Description

The Contingency Fee Agreement with an Attorney or Law Firm is a legal document designed to outline the terms under which a client retains an attorney to pursue a wrongful termination claim. This form specifies the arrangement that the attorney will only receive payment if the case is won, with defined percentages of the net recovery based on the outcome. Key features include the stipulation of attorney fees contingent on whether the matter is settled out of court or resolved through trial, as well as the outlining of costs that the client is responsible for despite the contingency arrangement. The form also establishes attorneys' lien rights, thereby ensuring they receive due payments from settlements or judgments. Additionally, it permits attorneys to employ experts and associate counsel, and grants them the power of attorney to execute necessary legal documents on behalf of the client. This form is particularly useful for attorneys, partners, and legal assistants who handle personal injury or employment law cases, as it provides a clear framework for managing client expectations and operational costs. Paralegals may find it beneficial for understanding fee structures and associated responsibilities, while legal assistants can utilize it for documentation and case management.