Legal Dictionary of Pakistan
Quick lookup for English, Urdu, and Latin legal terms used in Pakistani jurisprudence.
contingent fee
See CONTINGENT FEE.
defense contingent fee
See reverse contingent fee under CONTINGENT FEE.
negative contingent fee
See reverse contingent fee under CONTINGENT FEE. negative covenant See COVENANT (1).
reverse contingent fee
A fee in which a defense lawyer's compensation depends in whole or in part on how much money the lawyer saves the client, given the client's potential liability - so that the lower the settlement or judgment, the higher the lawyer's fee. ( For example, if a client might be liable for up to $2 million, and agrees to pay the lawyer 40% of the difference between $1 million and the amount of the settlement or judgment, then a settlement of $800,000 would result in a fee of $80,000 (40% of the $200,000 under the threshold amount of $1 million). - Also termed negative contingent fee; defense contingent fee; reverse bonus.