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LSDefine

Simple English definitions for legal terms

defense contingent fee

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A quick definition of defense contingent fee:

A defense contingent fee is a type of fee that a lawyer charges only if they win the case or settle it in favor of their client. The fee is usually a percentage of the amount the client receives as compensation. A reverse contingent fee is a fee in which a defense lawyer's compensation depends on how much money they save the client, given the client's potential liability. The lower the settlement or judgment, the higher the lawyer's fee.

A more thorough explanation:

A defense contingent fee is a type of fee charged by a lawyer for their services only if the lawsuit is successful or is favorably settled out of court. This fee is calculated as a percentage of the client's net recovery, such as 25% of the recovery if the case is settled, and 33% if the case is won at trial.

For example, if a client hires a lawyer for a personal injury case and the lawyer charges a 30% contingency fee, and the case is settled for $100,000, the lawyer would receive $30,000 as their fee.

Reverse contingent fee is a type of fee in which a defense lawyer's compensation depends on how much money the lawyer saves the client, given the client's potential liability. The lower the settlement or judgment, the higher the lawyer's fee. For instance, if a client might be liable for up to $2 million, and agrees to pay the lawyer 40% of the difference between $1 million and the amount of the settlement or judgment, then a settlement of $800,000 would result in a fee of $80,000 (40% of the $200,000 under the threshold amount of $1 million).

These examples illustrate how a defense contingent fee and reverse contingent fee work in practice. They show how lawyers can be incentivized to work harder to win a case or negotiate a better settlement for their clients, as their fees depend on the outcome of the case.

Defense Commissary Agency | Defense Contract Audit Agency

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HopefullyInLawSchool
16:06
it means you will not be rejected today and may be accepted or WL in the future
Just got my Michigan rejection
BookwormBroker
16:10
same
RoaldDahl
16:10
@HopefullyInLawSchool: what if i already got rejected. does it mean anything
HopefullyInLawSchool
16:12
@RoaldDahl: Likely not however it could mean nothing
RoaldDahl
16:15
So if it means nothing does that mean something?
HopefullyInLawSchool
16:17
Possibly
RoaldDahl
16:26
Cool
RoaldDahl
16:26
thank you!!!! i hope it means something
pinkandblue
16:31
fart
IrishDinosaur
16:36
Mich R gang lesgooo
Did anyone else get that random get to know nova email?
HopefullyInLawSchool
17:21
Ya it was sent to all YM applicants
starfishies
17:37
Anyone get the NDLS email inviting you to apply for something even though they haven’t made a decision on your app yet
17:38
Better yet I got the email and I was rejected last month
starfishies
17:38
Wtf
starfishies
17:39
and the deadline is in like a week what is this
any cardozo movement?
BatmanBeyond
18:01
Sent a LOCI via portal, but I'm wondering if email would have gotten me a swifter response
BatmanBeyond
18:02
This whole hold/wait-list/reserve system is a headache
loci already?
BatmanBeyond
18:09
If the odds are like 1-2% I don't think it matters much by the numbers
12:11
I got the same NDLS email
OrangeThing
12:18
I think the user profiles are broken
19:29
Any word out of Notre Dame?
19:29
Only the invitation to apply for LSE
19:29
Anyone received a decision from NDLS?
19:50
when did u guys apply that just heard from umich? they havent even glanced at my app yet
0:30
how am i supposed to spy on people when profile links are broken?
Right. Broken links smh
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