A Paralegal Firm Is Retained on Its Standard Hourly Rate

question 64

Multiple Choice

A paralegal firm is retained on its standard hourly rate to conduct a Small Claims Court action for a business. Which of the following is a source of legal obligation owed by the paralegal firm to its client?

• A)Contract
• B)Tort
• C)Fiduciary duty
• D)Both A and B
• E)All of the above

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Definitions:

Profitability Computed

Refers to the calculation of a company's earnings versus its expenses to determine financial performance.

Average Annual

Average annual typically refers to the mean amount or figure calculated over a year's period, often used in financial, operational, or performance metrics.

Average Amount

The average amount refers to the arithmetic mean of a set of numbers or quantities, obtained by summing them together and then dividing by the count of these numbers.

Amortization Period

The duration of time over which the cost of an intangible asset is incrementally expensed or amortized to a company's financial statements.