Legal Experts

Fiduciary

A fiduciary is a person or organization legally and ethically obligated to act in another party's best interest. Financial advisors, attorneys, trustees, and corporate directors are common examples of fiduciaries — they must prioritize their client's interests above their own.

Retainer Fee

A retainer fee is an upfront payment made to a professional — most commonly an attorney or consultant — to secure their availability and future services. The retainer is typically held in a trust account and drawn against as work is performed.

Contingency Fee

A contingency fee is a legal fee arrangement in which an attorney is paid only if the case is won or settled — typically a percentage (25–40%) of the recovered amount. If the case is lost, the client generally owes no attorney fees.

Indemnification

Indemnification is a contractual obligation by one party (the indemnitor) to compensate another (the indemnitee) for specified losses, damages, or liabilities. Indemnification clauses are ubiquitous in commercial contracts and determine who bears the financial risk if something goes wrong.

Breach of Contract

A breach of contract occurs when one party to a valid agreement fails to fulfill their contractual obligations without a legally valid excuse. The non-breaching party may seek damages, specific performance, or contract rescission depending on the type and severity of the breach.