Engagement Letter. Paying for "Costs"?
Yes. Typically atty/firm pays these out of pocket costs as they arise. Cumulatively they can be quite substantial, w some cases dragging on for yrs.
---- If atty obtains $$$ from defendant, thru negotiation, settlement, or lawsuit, then the math: $$$ less the 33 1/3% atty fee (per sample contract) then less $$$ costs, as enumerated ^, then the balance is disbursed to client.
---- If atty/firm does not obtain $$$ from defendant, atty/firm may never be reimbursed for all the out of pocket expenses they have paid for. Per contract, client is responsible for reimbursement, but I won't guess about lawsuits attys file against clients to try to collect. No idea how often.
{{{ETA: Contingency fees and atty's advancing litigtion costs on behalf of clients allows some clients to sue, when without these contingency fees & advances, client would not have legal representation to sue. And paying lit costs also force attys to be more selective, not take the shaky/dodgy/flimsy cases.}}}
(I don't want to go too much further afield or O/T by discussing at length in this thread, unless it is specific to the case. And others may have info for you too, if you want to pose questions or discuss in Private Forums/Jury Room. Good questions.)
@Forever Young
Yes. Typically atty/firm pays these out of pocket costs as they arise. Cumulatively they can be quite substantial, w some cases dragging on for yrs.---- If atty obtains $$$ from defendant, thru negotiation, settlement, or lawsuit, then the math: $$$ less the 33 1/3% atty fee (per sample contract) then less $$$ costs, as enumerated ^, then the balance is disbursed to client.
---- If atty/firm does not obtain $$$ from defendant, atty/firm may never be reimbursed for all the out of pocket expenses they have paid for. Per contract, client is responsible for reimbursement, but I won't guess about lawsuits attys file against clients to try to collect. No idea how often.
{{{ETA: Contingency fees and atty's advancing litigtion costs on behalf of clients allows some clients to sue, when without these contingency fees & advances, client would not have legal representation to sue. And paying lit costs also force attys to be more selective, not take the shaky/dodgy/flimsy cases.}}}
(I don't want to go too much further afield or O/T by discussing at length in this thread, unless it is specific to the case. And others may have info for you too, if you want to pose questions or discuss in Private Forums/Jury Room. Good questions.)
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