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Simple English definitions for legal terms

retainer

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A quick definition of retainer:

A retainer is an agreement between a lawyer and a client. There are different types of retainers, but they all involve paying money upfront for future legal services. A general retainer is when a lawyer agrees to be available for a client's future legal needs. A security retainer is when a client pays money into a trust to ensure that funds are available to pay the lawyer for their services. An advance fee retainer is when a client pays for legal services upfront. The goal of a retainer is to make sure that the lawyer gets paid for their work.

A more thorough explanation:

A retainer is an agreement between a client and a lawyer where the client pays the lawyer in advance for future legal services. There are different types of retainers:

A general retainer is when a lawyer agrees to be available to handle a client's case or future legal issues. The client pays the lawyer for reserving their availability, but the lawyer will have further fees for the services performed. This type of retainer is usually used when the lawyer or law firm has special talents or connections with the client.

A security retainer is when the client makes a payment for future legal services, but the money does not go to the lawyer until they earn the compensation. The goal of a security retainer is to ensure that funds are available to pay the lawyer and firm. When the security retainer is paid, it goes into a trust, and not to the lawyer. The lawyer may receive compensation either periodically for services or after finishing the services in the agreement. Sometimes, a client must replace money in the security retainer that is used to pay for lawyer fees. These agreements can entail that the lawyer receives all of the retainer after the services are performed or the client may be able to receive money back or pay more if the lawyer is to bill hourly.

An advance fee retainer is when the client pays the lawyer in advance for specific legal services that the lawyer will perform in the future. The payments can go to the lawyer, not necessarily to a trust or special account. Usually, advance fee retainers are all the compensation for the services. However, in some states, advance payment retainers merely cover expected fees for the future services with the client being responsible for any extra fees that accumulate.

For example, a client may pay a lawyer a general retainer to ensure that the lawyer is available to handle any legal issues that may arise in the future. Another example is a client paying a security retainer to ensure that funds are available to pay the lawyer for future legal services. Lastly, a client may pay an advance fee retainer for specific legal services that the lawyer will perform in the future.

These examples illustrate how a retainer works. A client pays a lawyer in advance for legal services, and the lawyer will perform the services when needed. The type of retainer determines how the payment is made and when the lawyer receives compensation.

retained earnings | retainer agreement

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[] baddestbunny
16:14
also wow I didn’t consider that about immigration policy. hmmm
[] baddestbunny
16:17
@Law-Guy: you get it
Dkkm11
16:19
@baddestbunny: oh yeah definitly. Idk how any system of government would work if you can't distribute social goods to everyone.
MildChiller
16:33
does anyone know if the Yale webinars are cameras on?
1a2b3c4d26z
16:35
Justice as deez!
[] baddestbunny
17:49
Quentin Tarantino is interested in watching somebody’s ear getting cut off; David Lynch is interested in the ear.
Dkkm11
18:03
Quentin Tarantino can't resist putting a gay scene with a black guy participating in the gay act in his movies.
Dkkm11
18:05
David Lynch is just gay.
[] baddestbunny
18:18
Lynch is more in touch with his unconscious/dream state than the average person
Dkkm11
18:42
Probably. I just dont know. All I know is he did a good job with Dune.
[] baddestbunny
18:45
You should watch Blue Velvet
[] baddestbunny
18:46
How’s your LSAT studying been going?
Dkkm11
18:49
It is good. I have about two more weeks and I broke the 90 level on LSAT Demon which is good last night. My goal is 95 so I can probably get it before I test. It is scaled our of 100. This is for LR. My RC is below that but I know the more I get better at MBT questions the better my RC becomes.
Dkkm11
18:50
I watched the trailer for that movie. The run time is 2 hours. May watch it on 2x the speed. Just watched se7en and thats like as graphic as I get so I kinda need a break from weird bodyhorror stuff. The sloth guy in that movie scared me.
Dkkm11
18:51
I do like psychological horror though.
[] baddestbunny
18:53
Oh jesus don’t watch the movie at all if you’re gonna watch it on 2x speed
[] baddestbunny
18:54
I have never used lsat demon; how do their levels relate to actual lsat scoring?
Dkkm11
18:56
kinda go in 20 point intervals. 20 points if you have mastered lvl 1 difficulty questions, 100 points if you have mastered lvl 5.
Dkkm11
18:56
Getting 100 points is incredibly difficult though. anything baout 95 is pushing the 175-180 range. 90-95 is like 170-174 or so. etc.
[] baddestbunny
18:56
yeah but if you’re getting a 95 on all sections what LSAT score is that? how is that calculated?
[] baddestbunny
18:56
oh okay
[] baddestbunny
18:57
so 100 would be a 180?
Dkkm11
18:57
Yeah, 100 is like you would get a 180 and there's nothing more to teach you. I have only seen someone with a 100 like 2/3 times.
[] baddestbunny
18:57
are you taking practice tests that are being scored though?
[] baddestbunny
18:57
or just drills
Dkkm11
18:57
Yep, they get factored into it.
Dkkm11
18:58
I do drilling essentially every day. A timed section every 3, and a test every 2 weeks.
1a2b3c4d26z
20:06
re: WashU's URM lsat differential - fair to chalk that up to LSAT redaction weirdness messing w the scale or are they generally starved for URMs
1a2b3c4d26z
20:07
And an (albeit negligible) inverse URM GPA differential
OppositeEarlyCorgi
21:53
Just found out LSAC gpa is different from offical from undergrad, went from 3.0 on 4.0 scale to 2.67... Guess I'm a super splitter rather than a splitter
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