Personal injury lawyers may be paid a contingency fee equal

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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.

Reference no: EM131197018

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