Contingency In Law Terms In Franklin
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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.
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.
The Most Common Cases that Do Not Operate on Contingency Fees Criminal defense cases. Divorce attorneys. Family law attorneys. Domestic relations cases. Business-related cases. Contracts and closings.
Adjective. dependent for existence, occurrence, character, etc., on something not yet certain; conditional (often followed by on or upon ): Our plans are contingent on the weather. liable to happen or not; uncertain; possible: They had to plan for contingent expenses.
: dependent on or conditioned by something else. Payment is contingent on fulfillment of certain conditions. a plan contingent on the weather. 2. : likely but not certain to happen : possible.
Examples of issues that might necessitate the use of a contingency fund: Inadequate initial estimates. Small items not covered in planning. Errors in initial estimates. Small deviations due to inevitable delays.
(a) "Contingency," as used in this subpart, means a possible future event or condition arising from presently known or unknown causes, the outcome of which is indeterminable at the present time.
Contingency planning means preparing an organization to be ready to respond effectively in the event of an emergency. It is an important part of the IFRC's work supporting National Society preparedness.
Contingency operation means a military operation that: is designated by the Secretary of Defense as an operation in which members of the Armed Forces are or may become involved in military actions, operations, or hostilities against an enemy of the United States or against an opposing military force; or.
