So many companies do it today.
They offer a moneyback guarantee.
If you are not satisfied with their product or service, they offer to immediately give you back your money.
That's certainly reassuring.
It allows you the opportunity to try the product or service and if you are not satisfied, get your money back.
How great is that?
You see this being offered online.
You see it being offered on TV.
It's a great way to differentiate yourself from your competitors.
Especially if your competitors do not offer moneyback guarantees.
Let's take that same concept and apply it to lawyers.
How cool would it be if lawyers offered a moneyback guarantee?
We know there are many lawyers who get paid by the hour.
Imagine if they offered moneyback guarantee and you lost your case.
That means they would have to pay you back all the money they paid them.
How likely do you think that would be?
Let's change the scenario...
Let's say you hire an attorney who handles accident cases or medical malpractice cases or even wrongful death cases.
You believe you have a good valid case.
Your attorney takes your case with the expectation and hope that you will be successful.
Your attorney agrees not to be paid on an hourly basis.
Your attorney agrees that he will pay for all of the expenses to prosecute your case.
The expectation is that if you are successful in settling your case or getting a verdict in your favor, then all his expenses will be repaid to him at the end of your case.
The expectation is also that if you are successful, the attorney will receive a percentage of whatever you recover as his fee.
Legally, this is known as a contingency fee.
What happens though if an attorney offers a moneyback guarantee in a contingency case?
Do you think it could happen your New York?