Assume a lawyer signs a contingency fee contract with a plaintiff.The case ends up settling for $1 million,of which the plaintiff received $800,000.It is obvious this contract was efficient.
A) True, the plaintiff received some money.
B) False, it is not clear whether another lawyer would have settled for more.
C) False, it is not clear whether the plaintiff's lawyer is very smart.
D) True, the plaintiff and lawyer reached an agreement and both lived up to their end of the agreement.

Question

Quizplus · Accepted Answer

The efficiency of the contract is not solely determined by the plaintiff receiving money; it also depends on whether the settlement amount was maximized. Another lawyer might have negotiated a higher settlement.

Assume a Lawyer Signs a Contingency Fee Contract with a Plaintiff.The