The Decision to Enter into the Lawyer-Client Relationship Should Be

question 119

Multiple Choice

The decision to enter into the lawyer-client relationship should be

• A) made quickly to ensure that no one else can retain your lawyer.
• B) solely up to the lawyer, as he or she is the one with the legal training.
• C) made primarily on the basis of cost.
• D) a mutual decision made primarily on the basis of trust.
• E) solely up the client, as the client is the one paying for the services.

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Definitions:

State Uncertainty

The condition of not knowing the true state of a system or environment, often due to insufficient information.

Economic Uncertainty

The unpredictability in economic conditions, which can include factors such as inflation rates, employment levels, and market volatility, affecting business and investment decisions.

Macro Uncertainty

The uncertainty that exists within the broad economy which can impact decision-making and future outcomes on a large scale.

Break-even Analysis

Break-even analysis is a financial calculation used to determine the point at which revenue equals costs, indicating no net loss or gain, and is used for decision making in business planning.