In June 1995, defendant asked plaintiff law firm to represent him in his negotiations with the City of New York to construct an auto racing facility on Staten Island. By letter dated July 16, 1995, plaintiff proposed a retainer and fee arrangement, under which defendant would pay 10% of the gross receipts from the autodrome project and an hourly fee of $100, plus expenses. The hourly fee payments were deferred until the project began to bring in revenue. The letter agreement...
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