Contingency Fee In Law In Texas

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

Description

The Contingency Fee Agreement with an Attorney or Law Firm is a crucial document in Texas legal practice, specifically outlining the terms under which attorneys are compensated based on the outcome of the client's case. This agreement stipulates that clients will pay attorneys a percentage of the net recovery from a legal claim, such as wrongful termination, contingent on whether the matter is settled out of court, resolved by trial, or through an appeal. Key provisions include the attorneys' rights to advance costs and expenses, details on hiring expert witnesses, and the explicit statement that attorneys do not guarantee a favorable outcome. Additionally, if the client settles without the attorney's consent, they are still obligated to pay fees based on the recovery amount. The agreement also emphasizes the power of attorney granted to attorneys for executing necessary legal documents. This form is essential for attorneys, partners, owners, associates, paralegals, and legal assistants to ensure clarity in client-attorney arrangements and establish expectations for both parties during legal proceedings.