List three of the reasons for the push for a change from hourly billing to value billing.
What will be an ideal response?
ANS:
The reasons for the change from hourly billing to value billing include:
1. The client never knows during any stage of the work how much the total legal fee will be.
2. Clients sometimes avoid calling (or otherwise communicating with) paralegals and attorneys because they know they will be charged for the time, even if it is a simple phone call.
3. Clients have trouble seeing the relationship between what is performed by the paralegal or attorney and the enormous fees that can be incurred.
4. Hourly billing encourages lawyers and paralegals to be inefficient (i.e., the longer it takes to perform a job, the more revenue they earn).
5. Many law offices force attorneys and paralegals to bill a quota number of hours a year, which puts a tremendous amount of pressure on the individual paralegal and attorney.
You might also like to view...
Lyn and Susan cohabited for ten years. During that period, Lyn paid $350,000 for a home for them to live in but put it in Susan's name. When the couple ended their relationship, Susan sought a 50% interest in their home. The court denied her request and most likely based its ruling on which of the following theories?
A) resulting trust B) constructive trust C) implied-in-law contract D) joint venture
The insured’s payment to the insurance company: _____________________.
Fill in the blank(s) with the appropriate word(s).
Joe and Jill are not married to each other, but own a piece of real estate together as tenants in common. Sadly, Joe dies intestate. Who gets the property Joe and Jill owned?
A. Jill gets the whole thing as the survivor. B. The government will share it with Jill. C. His heirs, as determined by probate court. D. His heirs will share it with Jill.
Statutory Law is created:
a. By legislative bodies b. By the courts c. By citizens d. By police