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An agency cost is an economic concept that refers to the ... in 1976 titled "Theory of the Firm: Managerial Behavior, Agency Costs and ... on company law, this issue ...
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.
The law of agency is an area of commercial law dealing with a set of contractual, quasi-contractual and non-contractual fiduciary relationships that involve a person, called the agent, who is authorized to act on behalf of another (called the principal) to create legal relations with a third party. [1]
Law firms are typically organized around partners, who are joint owners and business directors of the legal operation; associates, who are employees of the firm with the prospect of becoming partners; and a variety of staff employees, providing paralegal, clerical, and other support services. An associate may have to wait as long as 11 years ...
In the field of law and economics, the English rule is a rule controlling assessment of lawyers' fees arising out of litigation.The English rule provides that the party that loses in court pays the other party's legal costs.
Several states also have exceptions to the American rule in both statutes and case law. For example, in California, the Consumers Legal Remedies Act allows plaintiffs to recover attorney's fees, [7] and in insurance bad faith cases, a policyholder may be able to recover attorney's fees as a separate component of damages. [8]
In the law, a contingent fee is defined as a fee charged for a lawyer's services that is payable only if a lawsuit is successful or results in a favorable settlement, usually in the form of a percentage of the amount recovered on behalf of the client. [1]
5 U. S. C. § 504 provides that an agency that conducts an adversary adjudication against a prevailing party (as "party" is defined) shall pay the fees and expenses of the party, unless the adjudicative officer of the agency finds that the position of the agency was substantially justified.