
Case summary: The plaintiff RM’s son died by swallowing a toy block with nomade by the defendant company P on which no warning was issued. The plaintiff filed a suit of negligence against the defendant. The defendant applied for summary judgment contending that the hazard was foreseeable.
To Explain: The meaning of the term on contingency fee-basis.

Explanation of Solution
The term contingency fee basis means that if the lawsuit succeeds, the attorney will get a fixed percentage of share, which is usually 33%, from the clients' recovery amount. In case, the lawsuit fails the attorney receives no fee, but it will be reimbursed by the client for all out-of-pocket expenses incurred by him.
Want to see more full solutions like this?
Chapter 3 Solutions
Bundle: The Legal Environment Of Business: Text And Cases, 10th + Mindtap Business Law, 1 Term (6 Months) Printed Access Card
- Best Mart Inc. reported income before income taxes of $2,400 million. However, the company failed to record $2,100 million in accrued expenses during the period. What would the actual income before income taxes be after adjusting for the accrued expenses?arrow_forwardCalculate the ending work in process inventoryarrow_forwardWhat's the Solution?arrow_forward
- Calculate the amount merchandise inventory?arrow_forwardLast year, Orion Enterprises had the following results: ⚫ Sales = $800,000 Variable expenses = $480,000 Fixed expenses = $120,000 a. What is the degree of operating leverage at the current level of sales? b. If sales increase by 10% next year, by how much will net operating income increase (in dollars)?arrow_forwardWhat is the company's return on investment?arrow_forward
- Prada Manufacturing had a Work in Process balance of $72,000 on January 1, 2022. The year-end balance of Work in Process was $95,000, and the Cost of Goods Manufactured was $730,000. Use this information to determine the total manufacturing costs incurred during the fiscal year 2022. Right answerarrow_forwardAccount subject probarrow_forwardBrightline Inc. uses direct labor hours to apply overhead. • Estimated DLH = 15,000 hours • Estimated overhead = $360,000 Actual DLH = 14,500 hours Actual overhead = $330,000 Determine whether overhead is overapplied or underapplied.arrow_forward
- BUSN 11 Introduction to Business Student EditionBusinessISBN:9781337407137Author:KellyPublisher:Cengage LearningEssentials of Business Communication (MindTap Cou...BusinessISBN:9781337386494Author:Mary Ellen Guffey, Dana LoewyPublisher:Cengage LearningAccounting Information Systems (14th Edition)BusinessISBN:9780134474021Author:Marshall B. Romney, Paul J. SteinbartPublisher:PEARSON
- International Business: Competing in the Global M...BusinessISBN:9781259929441Author:Charles W. L. Hill Dr, G. Tomas M. HultPublisher:McGraw-Hill Education





