A contingent fee (also known as a contingency fee in the United States or a conditional fee in England and Wales) is any fee for services provided where the fee is payable only if there is a favourable result. Although such a fee may be used in many fields, it is particularly well associated with legal practice.
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] Contingent fees may make it easier for people of limited means to pursue their civil rights since otherwise, to sue someone for a tort, one must first be wealthy enough to pursue such litigation in the first place.[2] Due to the risk of loss, attorneys will not take cases on a contingency basis unless they believe that the case has merit, although accepting cases on a contingency is not without risk.[3]
- ^ Black's Law Dictionary (8th ed. 2004) p. 338.
- ^ Sabbeth, Kathryn A. (2014). "What's Money Got to Do With It? Public Interest Lawyering and Profit". Denver University Law Review. 91: 463. Retrieved 14 October 2019.
- ^ Kritzer, Herbert M. (2002). "Seven Dogged Myths Concerning Contingency Fees". Washington University Law Journal. 80 (3): 749. Retrieved 14 October 2019.
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