Legal Services

Question 1

Placement

Answer 1

first stage of money laundering, putting cash from crime into financial system

Question 2

Layering

Answer 2

Obscuring the origins of the proceeds of crime by passing them through complex transactions
goal: lose the audit trail

Question 3

Integration

Answer 3

Making funds appear legitimate
investing funds into legitimate businesses or investments

Question 4

Conditional fee agreement

Answer 4

if client succeeds, sol gets their standard time costs (which can be recovered from losing party along w disbursements) plus a success fee
Success fee is a percentage of standard time costs payable by client out of the recovery
success fee cannot exceed 100% of normal fee charged

if nothing recovered, sol not entitled to costs but client may have to pay opponent’s costs and disbursements and pay for sol’s disbursements

Question 5

Damages based agreement

Answer 5

If client succeeds, sol gets percentage of client’s recovery regardless of sol’s normal fee and amount of disbursements

sols costs cannot exceed 25% in personal injury or 50% in other cases

sol gets nothing if client not successful