ABSTRACT
A useful discussion of the advantages and disadvantages of contingent fees requires an appraisal of alternative methods of financing litigation. The principle of contingent participation by the lawyer in his client's recovery has become an accepted part of the economics of certain branches of the profession, whether or not the client has other funds with which to pay a fee. The general rule is clearly established in the United States that each party pays the fees of his own attorney, whatever the outcome of the litigation. If an individual is unable to pay for legal services and the litigation in which he is engaged is not of the kind which will allow payment of fees out of a fund in court or out of recovered damages. Banks, real estate agents, life insurance companies, and many others, as an adjunct to their business, have offered, free, the legal services connected with a successful completion of their transaction with a customer.
