Personal injury lawyers may be paid a contingency fee equal
Personal injury lawyers may be paid a contingency fee equal to a percentage of the amount awarded. The lawyer receives payment only if his or her client wins the case and is awarded a sum of money. Lawyers in other types of cases are often paid on an hourly basis. Use the principal-agent relationship to assess the merits and drawbacks of each type of fee arrangement from the client's (i.e., the principal's) perspective. Be sure to discuss incentive effects.

Membership TRY NOW
  • Access to 800,000+ Textbook Solutions
  • Ask any question from 24/7 available
    Tutors
  • Live Video Consultation with Tutors
  • 50,000+ Answers by Tutors
OR
Relevant Tutors available to help