True or False: Time records are never kept for contingency cases?

The statement that time records are never kept for contingency cases is false. In fact, it is common practice for law firms to maintain time records for all types of cases, including contingency cases. Keeping accurate time records is essential for a variety of reasons, such as tracking the amount of time spent on a case, managing resources effectively, and justifying a firm's efforts should questions about the work performed arise. This practice also supports attorneys in understanding the value of the work done and can assist in future case assessments or fee arrangements. Furthermore, proper documentation can help in case-related disputes and provide transparency in the attorney-client relationship.

While contingency fee arrangements are based on the outcome of the case, recording time spent can still be crucial for internal purposes, ensuring the firm manages its case portfolio efficiently, and maintaining compliance with professional standards. Thus, the assertion that no time records are kept for these types of cases is inaccurate, as diligent record-keeping practices are integral to the overall management of all legal matters.