When does a contingency fee make sense for Florida contract lawsuits? 5 things to know about Florida contract cases & contingency fee

It seems that a lot of people know about paying an attorney by a contingency fee arrangement.  But, does acontingency fee make sense for a Florida contract dispute or lawsuit?  Here are 5 things to consider when involved in a Florida contract lawsuit, and you are considering trying to hire a law firm on a contingency fee.

Can I hire a Florida law firm on a contingency for my contract lawsuit?

1. The Basics.  A contingency fee Florida is where you, the client or prospective client, don’t pay the Palm Beach contract litigation law firm attorneys fees unless your case has a recovery.  A recovery is usually thought of as obtaining something –anything– of value for you.  If there is no recovery, the client to a contract lawsuit contingency fee Florida does not have to pay your business lawyer attorneys fees (assuming you have a typical contingency fee contract.)  You are still responsible for costs and expenses, so keep this in mind.  Now, in exchange for this risk, your business law firm will take a percentage of your recovery, if you win your Palm Beach Gardens contract lawsuit.   Also, understand that most law firms want a retainer or initial fee and want to be paid every month, with each invoice.   A contingency fee might, maybe, not necessarily, waive the retainer and will certainly in almost all cases, waive getting paid each month:  you have agreed to pay only if there is a recovery at the end of the litigation or uponwinning damages at trial, or obtaining some or all of the recovery.
2. Who pays costs in contingency fee Florida cases?  Most law firms won’t agree to pay your costs of litigating a Miami contract lawsuit, sometimes, but not always, known ascommercial litigation Florida or business litigation Palm Beach.   The Florida Bar also places limitations on what monies may or may not be spent or advanced by a West Palm Beach business law firm for a client.  Most law firms won’t pay your costs to acontract dispute any more than they will pay your FLP bill or your dry cleaning bill.  Most law firms don’t mind taking a limited number of contract lawsuits or business dispute cases on a contingency fee, but are, understandibly, not going to finance the costs of your litigation.  So keep costs in mind. Have a budget.  A contingency fee is not necessarily the end of your lawsuit analysis.
3. Loser Pays?  Understand that in Florida contract law, an oral contract is a lot different than an written contract.  So know what you have.  Also, if you have an oral contract, you better know how your contract litigation law firm is going to prove it.  If your contract Florida is in writing, be mindful of the “loser pays” provision which is very common in Florida contracts.  It’s not necessarily in all the contracts which Florida business lawyers write, but you need to me mindful that if you lose, and there is no recovery, while you may not have to pay a contingency fee to your Palm Beach commercial litigation law firm, you may have to pay the other side. So, my point?  Well, a contingency fee may make sense for you paying YOUR attorney, but be mindful of the downside, or the risk, of your contract disputes. While a contigency fee can help you with your attorneys fees, understand what happens if you lose, and whether the loser pays.
4. Proving Damages.  Remember we discussed costs of a Miami contract lawsuit in 2. above?  Well, remember that you may have big costs for contract lawsuits, depending on any number of factors or circumstances.  Since proving damages is an essential element of your contract lawsuit Ft. Lauderdale, you better know how you are going to prove damages.  Do you understand Florida damage law in business lawsuits for lost profits?  What does your Boca Raton contract litigator say about consequential damages or the chance to ask for attorneys fees as special damages? You may need adamage expert to give an opinion on what is the amount of damages in your Florida contract lawsuit.
5. Do you want to give up the upside for keys to the courthouse door?  Business lawsuits and Florida contract lawsuits are expensive.  So, consider whether a contingency fee is right for you.  While you can give up upside if you win or win damages at the contract trial Florida, you do have some downside protectionregarding your attorneys fees.  Do an analysis and understand, sincerely, how much you can spend, and how much risk you are going to take.  It takes a strong stomachand lots of committment and focus for a person to bring a Florida contract lawsuit.  Most non lawyers find litigation stressful, time consuming and not fun.  Consider hiring a lawyer who actually likes her or his job and practice and Florida law firm.  You should be as committed and focussed as your contract lawsuit law firm West Palm Beach.  Good luck.