Contingency By Law Definition In Franklin

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

Description

The Contingency Fee Agreement form establishes a contractual relationship between a client and attorneys for the prosecution of a wrongful termination claim. It includes key features such as the attorney's fees, which are contingent on the outcome: a specified percentage of net recovery depending on whether the matter is settled out of court, resolved by trial, or settled after an appeal. The form stipulates that clients are responsible for reasonable costs incurred by attorneys during the process, which include deposition costs and expert witness fees. Attorneys are granted a lien on any recovery to ensure they receive their fees and advanced costs. This agreement allows attorneys to work with expert witnesses and associate counsel as needed, and it clarifies conditions under which attorneys may withdraw from representation and what happens if a client settles without their consent. It explicitly states that no guarantee of success is made by the attorneys and that the agreement is governed by the laws of the relevant state. This form is useful for attorneys, partners, owners, associates, paralegals, and legal assistants as it provides a clear framework for engagement that protects both the client and the attorney’s interests. It ensures transparency regarding compensation, the handling of costs, and the legal obligations involved in the case, making it essential for proper representation in legal claims.