Title: Puerto Rico Agreement between Attorney and Client to Collect a Judgment — A Comprehensive Overview Introduction: In Puerto Rico, an Agreement between Attorney and Client to Collect a Judgment is a legally binding contract that establishes the relationship, responsibilities, and remuneration terms between a judgment creditor (client) and their attorney. This agreement outlines the scope of services, timelines, fees, and other relevant details when pursuing the collection of a judgment. Here, we delve into the various types of Puerto Rico Agreements between Attorney and Client to Collect a Judgment, providing a detailed description of each. 1. Contingency Fee Agreement: This type of agreement allows the attorney to collect a percentage of the amount recovered as a fee only if the judgment is successfully enforced. The fee amount is predetermined and often ranges between 25-40% of the recovered amount. Contingency fee agreements are commonly used when the client lacks the financial means to pay an attorney upfront. 2. Hourly Fee Agreement: Under an hourly fee agreement, the attorney charges the client for the actual time spent working on the case. The fees are calculated based on an hourly rate established between the attorney and the client. This agreement type provides flexibility but requires the client to pay fees regardless of the outcome, win, or loss. 3. Flat Fee Agreement: A flat fee agreement involves a predetermined fixed amount agreed upon by both the attorney and the client. This type of agreement is common for straightforward judgment collection cases where the attorney can estimate the effort and resources required accurately. The client pays the full fee even if the judgment collection is unsuccessful. 4. Hybrid Fee Agreement: A hybrid fee agreement combines elements of two or more agreement types. It may involve a lower hourly rate combined with a contingency fee or a reduced contingency fee along with a flat fee component. This agreement structure aims to offer a blend of affordability and risk-sharing between the attorney and the client. Key Components of a Puerto Rico Agreement between Attorney and Client to Collect a Judgment: — Identification of Parties: The agreement clearly identifies the client and attorney involved. — Scope of Services: Outlines the specific tasks the attorney will undertake to collect the judgment, including research, negotiations, court filings, and enforcement actions. — Timelines: Establishes expected completion dates or milestones, ensuring both parties are aware of the approximate duration of the process. — Fee Structure: Clearly defines the attorney's compensation, detailing the chosen agreement type (contingency, hourly, flat, or hybrid) and associated costs. — Expenses: Specifies which party will bear additional expenses, such as court filing fees, service of process costs, or investigator fees. — Termination Clause: Sets conditions or events that allow either party to terminate the agreement. — Confidentiality and Non-Disclosure: Outlines the obligation to keep client information confidential and prohibits the attorney from disclosing sensitive details. — Governing Law and Jurisdiction: States that the agreement will be governed by Puerto Rico law, and any disputes will be subject to Puerto Rico's courts. Conclusion: A Puerto Rico Agreement between Attorney and Client to Collect a Judgment is a crucial document that establishes clear expectations and responsibilities between the client and attorney. By understanding the different agreement types and their respective features, individuals seeking to collect a judgment can make informed decisions when selecting legal representation. It is advisable to consult with a qualified attorney to ensure compliance with Puerto Rico's specific regulations and guidelines regarding judgment collection agreements.
Puerto Rico Agreement between Attorney and Client to Collect a Judgment
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Personal or Contractual Legal Actions: Pursuant to Article 1203 of the New Code, any personal legal action that is not subject to a specific statute of limitations provided by law, including for actions based on breach of contract, will be subject to a statute of limitations of 4 years.
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