Nayda Retains Olin, an Attorney, on a Contingency-Fee Basis to Seek

question 58

Multiple Choice

Nayda retains Olin, an attorney, on a contingency-fee basis to seek damages in a personal-injury suit against Price-Mor Stores Inc. Nayda does not win her case. She must pay

• A)Olin's fee, but no other expenses related to the case.
• B)Olin's fee, and any other expenses related to the case.
• C)expenses related to the case, but not Olin's fee.
• D)none of the choices.

---

Definitions:

Liabilities

Obligations owed by a business to individuals or other entities, ranging from loans and mortgages to accounts payable.

Continuity Assumption

An accounting principle that assumes the business will continue operating indefinitely, not being forced to cease operations or liquidate.

Foreseeable Future

A time period in which an event or action is predicted or expected to occur.

Economic Benefits

The advantages or gains received by an individual, company, or society from financial activities or investments.