Funding of Legal Services Flashcards
One method of funding litigation is where the solicitor (S) and client (C) agree that if C wins, S, is entitled to their standard ______ _____ (which can be recovered from the losing party along with _____________), plus a ______ ___ expressed as a % of these costs payable by C.
This funding is known as…
time costs, disbursements, success fee
conditional fee agreement (aka ‘no win, no fee’)
Under a conditional fee agreement, if nothing is recovered, the agreement usually provides the solicitor is not entitled to any _____, or usually any ____________
costs, disbursements
Under a conditional fee agreement, the success fee cannot exceed what percentage of the normal fee charged?
100%
One method of funding litigation is when S and C agree that if C is successful, S is entitled to a percentage of C’s _______, regardless of S’s normal fee and disbursements (though the defendant will be liable for the amount equal to S’s standard _____ ______ and the _____________ made during litigation)
This funding is known as…
recovery, time costs, disbursements
damages based agreement
Under a damages based agreement, S’s costs cannot exceed what percentage of damages in:
1. Personal injury cases?
2. All others?
- 25%
- 50%
Under a damages based agreement, if C does not achieve their goal, S gets….
Nothing!
One method of funding litigation is where a third party pays S’s _______ and _______________, but not the other side’s ______ if the case is ____
This funding is known as…
costs, disbursements, costs, lost,
third party funding
Under third party funding, if nothing is recovered, the agreement usually provides that the third party funder is ___ __________ to recover anything from the client
not entitled
Under third party funding, if C wins, the agreement usually provides that the third party funder will recover an ______ ___ which will be paid out of the recovery
agreed fee
What type of insurance is purchased before the event being litigated occurred (e.g. as seen in car insurance)?
Before the event insurance
If before the event insurance requires the insured to use a designated ________, their duty to do what’s best for the client requires them to inform the client of this __________ and not accept __________
solicitor, limitation, instruction
What type of insurance is taken out after the event giving rise to the claim?
After the event insurance
Under after the event insurance, in exchange for _________, the insurer agrees to pay the ___________ made on the client’s behalf and the other party’s _______ if the client _____
premiums, disbursements, costs, loses
What type of insurance is often purchased when the client has agreed to a conditional fee agreement?
After the event insurance
Civil legal aid is available if the client meets a _________ ___ test and a _____ test (meaning good prospects of ________)
financial need, merits, success
