Asked by Erika Lansang on May 05, 2024

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An advance payment made by a client to a firm or attorney to cover part of the legal fees and/or costs that will be incurred on the client's behalf is called a(n)

A) fixed fee.
B) hourly fee.
C) retainer.
D) contingency fee.

Advance Payment

Payment made before its due date, often required in contracts as a form of security or commitment.

Legal Fees

The charges or payments made to lawyers for their professional services, which can include hourly rates, flat fees, or contingent fees.

Retainer

An advance payment made by a client to a law firm to cover part of the legal fees and/or costs that will be incurred on that client’s behalf.

  • Gain insight into the various types of legal costs and billing procedures.
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ZK
Zybrea KnightMay 10, 2024
Final Answer :
C
Explanation :
A retainer is an advance payment made by a client to a firm or attorney, which is held in a trust account and used to cover part of the legal fees and/or costs that will be incurred on the client's behalf as the work progresses.