What is a contingent settlement?

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Contingency fee agreements allow clients to utilize the services of an attorney and pay fees later, after the settlement money or trial winnings allow payment. In other words, payment is contingent on the attorney successfully winning or settling the case and providing the client with compensation for any damages.

What does contingency mean in law?

Contingency fee – which is a conditional payment a lawyer receives for rendering his legal services upon successful representation of his client. Such a fee depends on the result/outcome of the dispute.

What is the difference between contingency fee and retainer?

A contingent fee agreement is a legal agreement that allows you to hire a lawyer for your case without having to pay any out-of-pocket upfront fees unlike a retainer fee. The lawyer getting payment is contingent on you winning your case. If you do not win your case, you don’t have to pay your contingency lawyer.

What is a contingency agreement in real estate?

Contingency clauses provide a way for one or both parties to back out of a real estate contract if certain specified conditions are not met. In other words, the sale is contingent upon these conditions.

What does contingent mean in court?

Contingent refers to an event that may or may not happen;something that is possible, uncertain or unpredictable. For example the trust was contingent. It could also mean dependent on something else; conditional.

Will a lawyer take a losing case?

If your case isn’t winnable, no lawyer will want to waste your time, or the court’s time, pursuing legal action. However, if you have a case where the facts and evidence are in question, but the damages you could recover are high, an attorney with extensive experience in cases like yours might take the case.

Is it good to have a lawyer on retainer?

If you are a business person, it makes sense to have a lawyer on retainer. Retaining a business attorney from the very start can save valuable time, energy and money in order to help avoid litigation. Retaining an attorney from the beginning can help you focus on your business and not on legal questions.

What is contingent example?

When an event or situation is contingent, it means that it depends on some other event or fact. For example, sometimes buying a new house has to be contingent upon someone else buying your old house first.