Contingent Contract With Case Law In Pima

State:
Multi-State
County:
Pima
Control #:
US-00442BG
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Word; 
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Description

There are various types of attorney fee arrangements such as time based, fixed, or contingent. Time based means a fee that is determined by the amount of time involved, such as so much per hour, day or week. Fixed means a fee that is based on an agreed amount, regardless of the time or effort involved or the result obtained. Contingent means a certain agreed percentage or amount that is payable only upon attaining a recovery, regardless of the time or effort involved.


With a contingent fee arrangement, the lawyer receives no fee unless money is recovered for the client. Upon recovery, the lawyer is paid an agreed-upon percentage, usually ranging from an amount equal to 25 to 50 percent of the amount recovered. A written fee agreement should specify the costs and expenses to be deducted and whether such costs and expenses are to be deducted before or after the contingent fee is calculated. Contingent fee agreements are generally not permitted for criminal cases or domestic relations matters.


Even if there is no recovery, however, the client is still responsible for court costs (filing fees, subpoena fees, etc.) and related expenses, such as telephone charges, investigators' fees, medical reports, and other costs.


This form is a fairly typical contingent fee agreement

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  • Preview Contingency Fee Agreement with an Attorney or Law Firm
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FAQ

Contingent contracts usually occur when negotiating parties fail to reach an agreement. The contract is characterized as "contingent" because the terms are not final and are based on certain events or conditions occurring. A contingent contract can also be viewed as protection against a future change of plans.

Adequacy ensures fairness in the exchange, legality ensures compliance with the law, and mutuality ensures balance in the agreement. However, there are exceptions to the rule of consideration, such as promissory estoppel, completed gifts, agency, and contracts of gratuitous bailment.

Some cases may constitute exception. However, the event must not be of impossible character. In a contingent contract, there should be some event collateral to the contract. If the event consist in the performance of the contract itself by one party it is not a contingent contract.

Technically, yes — a seller can back out of a contingent offer. Before agreeing, they can choose to reject or counter the original offer with their own terms. Once the offer is accepted, if the contingencies aren't met, the seller can back out but there may be legal or financial implications involved.

Contingent contracts to do or not to do anything if an uncertain future event happens cannot be enforced by law unless and until that event has happened. If the event becomes impossible, such contracts become void.

An exception clause is a provision in a contract that acts as a safety net, protecting parties from certain unforeseen events or circumstances.

Conditions are requirements set by lenders that must be met for the approval to move forward. Contingencies, on the other hand, are provisions that allow you to back out of the mortgage agreement under specific circumstances.

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.

Contingency clauses help parties find common ground when they have divergent future expectations. However, they come with complexities and potential drawbacks, such as increased administrative overhead and the need for careful negotiation and drafting.

In the case of conditional contracts, conditions that need to be fulfilled are certain, i.e., bound to happen, which is not the case with contingent contracts, as such conditions may or may not happen.

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Contingent Contract With Case Law In Pima