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It is common for a person seeking the services of a lawyer (attorney) to pay a retainer ("retainer fee") to the lawyer, to see a case through to its conclusion. [2] A retainer can be a single advance payment or a recurring (e.g. monthly) payment. Absent an agreement to the contrary, a retainer fee is refundable if the work is not performed. [3]
A demand letter, letter of demand, [1] (of payment), or letter before claim, [2] is a letter stating a legal claim (usually drafted by a lawyer) which makes a demand for restitution or performance of some obligation, owing to the recipients' alleged breach of contract, or for a legal wrong. Although demand letters are not legally required they ...
An engagement letter defines the legal relationship (or engagement) between a professional firm (e.g., law, investment banking, consulting, advisory or accountancy firm) and its client(s). This letter states the terms and conditions of the engagement, principally addressing the scope of the engagement and the terms of compensation for the firm.
Money within the retainer is often used to "buy" a certain amount of work. Some contracts provide that when the money from the retainer is gone, the fee is renegotiated. This is to be differentiated between a retainer in Commonwealth states, where a retainer is the contract that is initially signed by a client to engage a lawyer.
Retainage is a portion of the agreed upon contract price deliberately withheld until the work is complete to assure that contractor or subcontractor will satisfy its obligations and complete a construction project. [1] A retention is money withheld by
Here's how we compiled the list: We pored through 30-year average snowfall statistics of hundreds of locations in the U.S. from 1991 through 2020. We considered only those towns and cities with a ...
The duty is sourced from a combination of contract law and equity arising from the distinctive relationship between lawyer and client. The solicitor or attorney is an agent of the client under the law of agency. In contract, the duty arises from terms contained in the retainer agreement. Complementarily, equity prohibits unauthorised use or ...
Getting older has a few perks — wisdom, greater perspective on life and senior discounts among them — but most of us associate aging with the harsh reality of wrinkles, joint problems and a ...
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