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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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texaslawhopefully
17:07
That's all anyone should've needed.
17:07
i am a 1 issue voter: national debt.
jackfrost11770
17:07
THERES A COP FUNERAL AND NOW THE BUSES ARENT RUNNING TO MY PLACE SO I HAVE TO WALK IN THE FREEZING COLD HOME
texaslawhopefully
17:07
Not to mention that he's completely thrown away liberalism and classic western political philosophy, but yk your eggs will be cheaper so it's worth it
how bad are these tariffs gonna get for us everyday consumers?
@jackfrost11770: FUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUu
jackfrost11770
17:08
FUCK THE NYPD
WASP HAHAHAHAHHA
texaslawhopefully
17:08
Estimates are about 4k fruitbat
YRDSL
17:08
im a 1 issue voter - if i want someone to be elected i vote for them
woof
texaslawhopefully
17:08
I've seen some that could be as high as 7k though
17:08
@jackfrost11770: ya prolly don't buy any lotto tickets tonite
get on that trump coin before the rug pull lol
Dkk
17:09
@BigStrongBug: I don't consider myself a one issue voter but if I had to pick one it would be gender relations.
i am a one issue voter for the economy, which is why i voted harris
texaslawhopefully
17:10
Here's a fairly well respected estimate fruitybat: The proposed tariffs could cost consumers an additional $2,500 to $7,600 a year per household, according to estimates, said Jonathan Gold, vice president of supply chain and customs policy for the National Retail Federation.
i am a voter so i voted
17:11
Lol what does gender relations mean
17:11
Like are you anti gay marriage?
texaslawhopefully
17:11
@Dkk: So you care about gender relations over the Constitution, institutional stability, the economy, political norms, etc.?
blue collar trump voters are gonna blame anything but him anyway when the price of their household consumption goes through the roof. I wonder how they'll spin that narrative.
17:11
Or are you an all inclusive hater and include trans folks too
texaslawhopefully
17:12
Even if you have conservative social values you still shouldn't like Trump lol, but that's a whole diff convo
I love when people prefer putting not talking about gender in schools at the top of the agenda instead of dealing with school shootings
this is going to blow your mind but once you realize women and men are more similar than different you will drown in pussy or dick
17:12
@HopefullyInLawSchool: $45k @ KS is really good. $145k is to attend it is not a bad deal
facts knowledgeable
Also love how he put an EO to leave the Paris climate agreement in the midst of the LA wildfires and places who haven’t gotten snow in 15 years now getting storms
@llama: it would only be 17,000 ish per year
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