Legal Definitions - contingent fee

A contingent fee is a way for lawyers to get paid for their services. Instead of charging a fixed hourly rate, a lawyer who works on contingency gets a percentage of their client's monetary award. This means that if the client doesn't win the case, the lawyer doesn't get paid.

Contingency fees are common in personal injury cases. For example, if someone is injured in a car accident and hires a lawyer on contingency, the lawyer might receive 33% of the amount the client is awarded in court.

However, there are rules that lawyers must follow when working on contingency. The agreement between the lawyer and client must be in writing and signed by the client. The agreement must also state how the fee will be determined and any expenses the client will be responsible for.

Some people think that contingency fees are good because they allow people who can't afford a lawyer to get one. They also give lawyers an extra incentive to win the case. However, others think that contingency fees encourage too many frivolous lawsuits and that the fees are often too high.

For example, if someone is injured in a slip and fall accident and hires a lawyer on contingency, the lawyer might receive a percentage of the amount the client is awarded in court. If the client doesn't win the case, the lawyer doesn't get paid.

Overall, a contingent fee is a way for lawyers to get paid for their services based on the outcome of a case. It can be a good option for clients who can't afford a lawyer, but it's important to understand the rules and potential drawbacks.