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Need understanding about Attorney fee

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EddieLawStudent

Junior Member
What is the name of your state (only U.S. law)? CA

I have a basic question about attorney fee. I was reading a case and it mentioned the following: Client will pay Attorneys fees of 35% of any settlement or recovery that Attorney obtains for Client up to 100 days before the date set for trial and 40% of any settlement or recovery that that Attorney obtains for client after that date.Those fees shall be of any settlement or recovery prior to the deduction of any expense or cost ,or the "gross" recovery.

Can someone explain me with an example in dollar amount what the above means? Does this mean the attorney is entitled to get 75% in fees?

Thanks,
Eddie
 


Zigner

Zigner

Senior Member, Non-Attorney
EddieLawStudent said:
What is the name of your state (only U.S. law)? CA

I have a basic question about attorney fee. I was reading a case and it mentioned the following: Client will pay Attorneys fees of 35% of any settlement or recovery that Attorney obtains for Client up to 100 days before the date set for trial and 40% of any settlement or recovery that that Attorney obtains for client after that date.Those fees shall be of any settlement or recovery prior to the deduction of any expense or cost ,or the "gross" recovery.

Can someone explain me with an example in dollar amount what the above means? Does this mean the attorney is entitled to get 75% in fees?

Thanks,
Eddie
Click to expand...
No, if you replace "and" with "or" it will be more clear (although it means the same)
 
C

CSO286

Senior Member
EddieLawStudent said:
What is the name of your state (only U.S. law)? CA

I have a basic question about attorney fee. I was reading a case and it mentioned the following: Client will pay Attorneys fees of 35% of any settlement or recovery that Attorney obtains for Client up to 100 days before the date set for trial and 40% of any settlement or recovery that that Attorney obtains for client after that date.Those fees shall be of any settlement or recovery prior to the deduction of any expense or cost ,or the "gross" recovery.

Can someone explain me with an example in dollar amount what the above means? Does this mean the attorney is entitled to get 75% in fees?

Thanks,
Eddie
Click to expand...

Is this homework? :rolleyes:

In any event, up to 100 days before trial, if the settlement offer is 100K, clinet agrees to pay atty $35K. After that date, client agreees to pay $40K.


ETA: I missed that bit, Zigner!! Thanks for catching it.
 
Last edited:
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dmcc10880

Member
Gross Settlement: $100,000 (100+ days prior to trial)
Atty Fee (35%): (35,000)
Sub-total: $ 65,000
Atty OOP Costs: $ (5,000) (filing fees, postage, fax, etc.)

Amount to client: $ 60,000

Now within 100 days... apply 40% as atty fees. Atty gets paid in full before client receives a dime. Pretty standard in a contingency fee contract, especially in California.

FYI... your professor comes to this site frequently. :D
 
E

EddieLawStudent

Junior Member
CSO286 said:
Is this homework? :rolleyes:

In any event, up to 100 days before trial, if the settlement offer is 100K, clinet agrees to pay atty $35K. After that date, client agreees to pay $40K.


ETA: I missed that bit, Zigner!! Thanks for catching it.
Click to expand...
Thanks for replying... So after that date if the case goes to trial then whatever amount the client gets, he/she is obligated to pay 40% to the atty...correct
 
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