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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]
In some civil cases, courts have rejected fees exceeding 10% of the award as unjust enrichment of the attorney, requiring the attorney to refund the excess to the client. [ 14 ] On July 23, 2015, the Supreme Court of Korea ruled that contingent fee agreements for criminal representation were void as against public policy, under Article 103 of ...
Side letters may also be used in relation to private fund contracts, for example a particular investor may wish to vary the terms of a limited partnership agreement with respect to that particular investor. An investor might be seeking more favourable terms under the contract or might need the side letter to enter the venture under terms to ...
An agreement is entered into by the two parties and a third party known as a surety provider, who acts as a guarantor between the two parties. The agreement states that cash retentions will not be used and, instead, the surety provider agrees to pay up to the amount which would have been held as a cash retention if the contractor or ...
Whether your bank refunds money lost in a scam depends on several factors: the type of scam, how you sent the funds, the bank’s policies and if you authorized the transaction. Learn more in our ...
Attorney fees are negotiated between the attorney and client, subject to any limits imposed by state law and the general principle that an attorney fee must be reasonable. Although fee agreements in most cases can be oral agreements, it is good practice for lawyers to enter formal written fee agreements with their clients, and to clearly ...
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