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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]
An attorney at law (or counsellor-at-law) in the United States is a practitioner in a court of law who is legally qualified to prosecute and defend actions in court on the retainer of clients. [1] As of January 1, 2023, there were 1,331,290 active lawyers in the United States. [ 2 ]
[28] [29] More common types of retainer defined by the court included the classic retainer (also known as a true retainer) [30] and the security retainer. [3] [31] A classic retainer was described by the court as one used in an attorney-client relationship for a set length of time or a particular purpose.
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A personal injury lawyer must qualify to practice law in the jurisdiction in which the lawyer practices. In many states, they must also pass a written ethics examination. [1] Lawyers may take continuing legal education (CLE) classes in order to learn about developments in the law or to learn about new practice areas. In states that require ...
The three were formerly law clerks at the old-line firm Alexander & Green. The first associate salary was $10, and the first retainer fee was $50. [5] In 1889, the name was changed to Reed Simpson Thacher & Barnum when former U.S. House Speaker Thomas Brackett Reed joined the firm. Reed died in 1902, and the name was soon changed to Simpson ...
Retainer agreement, a contract in which an employer pays in advance for work, to be secured or specified later, when required; Domestic worker or servant, especially one who has been with one family for a long time (chiefly British English) Affinity (medieval), also Retinue, a person or group gathered around in the service of a lord
Attorney's fee is a chiefly United States term for compensation for legal services performed by an attorney (lawyer or law firm) for a client, in or out of court. Fees may be an hourly, flat-rate or contingent fee.
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