Pactum de quota litis
Encyclopedia
A pactum de quota litis in the law
of contract
is an agreement by which the creditor
of a sum difficult to recover promises a portion to the person who undertakes to recover it. Most often it is used in litigation, where one party provides funds for the other party's legal costs in exchange for a share of the proceeds should the case be successful. In general, attorney
s will abstain from making such a contract, but it is not unlawful.
Law
Law is a system of rules and guidelines which are enforced through social institutions to govern behavior, wherever possible. It shapes politics, economics and society in numerous ways and serves as a social mediator of relations between people. Contract law regulates everything from buying a bus...
of contract
Contract
A contract is an agreement entered into by two parties or more with the intention of creating a legal obligation, which may have elements in writing. Contracts can be made orally. The remedy for breach of contract can be "damages" or compensation of money. In equity, the remedy can be specific...
is an agreement by which the creditor
Creditor
A creditor is a party that has a claim to the services of a second party. It is a person or institution to whom money is owed. The first party, in general, has provided some property or service to the second party under the assumption that the second party will return an equivalent property or...
of a sum difficult to recover promises a portion to the person who undertakes to recover it. Most often it is used in litigation, where one party provides funds for the other party's legal costs in exchange for a share of the proceeds should the case be successful. In general, attorney
Attorney
Attorney may refer to:*Attorney at law, a lawyer in some countries*Attorney general, the principal legal adviser to a government*Attorney-in-fact, a person authorised to act on someone else's behalf in a legal or business matter by a power of attorney...
s will abstain from making such a contract, but it is not unlawful.