money money

Question 0

reasonable fee factors

Answer 0

1. time, labor, novelty and difficulty of the question involved and the skill requisite to perform the service
2. likelihood acceptance will preclude other work
3. fee customarily charged for similar legal services
4. time limitations imposed by the client or circumstances
5. amount involved and the results obtained
6. nature and length of the professional relationship with the client
7. experience, reputation, and ability of the lawyer
8. whether the fee is fixed or contingent

Question 1

will a lawyer be subject to discipline for entering into a contingent fee arrangement to negotiate a publishing contract where the fee will be a % of the royalties?

Answer 1

no - a lawyer will not be subject to discipline for obtaining a financial interest in the subject of representation.

a lawyer may not obtain a proprietary interest in the subject of litigation.

Question 2

contents and requirements of client trust accounts

Answer 2

1. client funds only - may be commingled with other client funds
2. attorneys funds necessary to cover bank fees
3. must maintain complete records of fund and its contents
4. records must be maintained for 5 years after the representation has concluded

Question 3

financial assistance to a client

Answer 3

a lawyer may not provide financial assistance to a client in connection with the litigation except:

1. lawyer may pay all costs for an indigent client
2. lawyer can advance litigation costs and expenses provided the client remains liable for repayment, which may be contingent on the outcome of the case

Question 4

elements of a contingent fee arrangement

Answer 4

1. must disclose method used to calculate fee
2. what expenses will be deducted from the recovery
3. whether the expenses will be deducted before or after the fee is calculated
4. what expenses the client will remain liable for regardless of the outcome of the case.

Question 5

rules regarding attorneys fees and putting them in writing

Answer 5

fee splitting arrangements with lawyers and contingent fee arrangements must be in writing.

other fee arrangements need not be but should be agreed soon after undertaking the representation.

Question 6

factors allowing a lawyer to keep a client

Answer 6

the lawyer is competent
the lawyer charges a reasonable fee
there are no conflicts of interest prohibiting the representation