Rather Than Billing Clients by the Hour,some Lawyers and Their

question 59

Multiple Choice

Rather than billing clients by the hour,some lawyers and their clients agree on a fixed fee based on expected costs plus a profit for the law firm.Which pricing method are they using?

• A)target pricing
• B)cost-plus pricing
• C)customary pricing
• D)experience curve pricing

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Definitions:

First Continental Congress

A meeting of delegates from twelve of the thirteen American colonies in 1774, convened in Philadelphia to address colonial grievances against British policies.

Tasks

Specific jobs or pieces of work assigned or undertaken by an individual as part of a larger project or responsibility.

Members

Individuals who belong to a group, organization, or institution and typically have specific rights, responsibilities, or roles within it.

Constitutional Arguments

Debates or discussions regarding the interpretation, application, or meaning of the United States Constitution, often relating to significant legal cases or legislative actions.