Republic Factors, Inc. v. Carteret Work Uniforms

The opinion of the court was delivered by

Heher, J.

The issue joined here concerns an attorney’s contractual right to compensation for professional services in realizing a creditor’s intangible security given by an insolvent corporation.

March 6, 1952, the respondent Lehrich, an attorney-at-law of the State of New York, was engaged by the defendant Carteret Work Uniforms to prosecute in its behalf a claim for breach of contract against the United States before the Armed Services Board of Contract. Appeals; and Carteret agreed to pay him for the service a retainer of $1,500 (reduced to $1,000,…