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87 Tul. L. Rev. 1345 (2012-2013)

handle is hein.journals/tulr87 and id is 1411 raw text is: Hodges v Reasonover: The Louisiana Supreme Court Balances Policy Goals of Binding Arbitration and Attorney- Client Fiduciary Duty I. OVERVIEW .................................. ......1 345 II. BACKGROUND ............................... ......1 346 A. Lhnitation ofLiability.. ................ ...... 1346 B. Informed Consent ............................ 1348 III. CouRT's DECISION ...................................... 1349 IV ANALYISIS ....................................... 1353 I. OVERVIEW The plaintiff, Jacqueline Hodges, retained the defendant, Kirk Reasonover of the law firm Reasonover & Olinde, LLC, as counsel to represent her interests in a multimillion dollar business dispute-a decision she would later come to regret.' Prior to commencing their relationship, Hodges signed a retainer agreement with Reasonover & Olinde that included a binding arbitration clause.2 The arbitration clause mandated that the parties bring any dispute arising between them to the American Arbitration Association (AAA).' The parties kept the arbitration clause intact despite later renegotiating the terms of their fee agreement.' The revised fee agreement stated that Hodges should seek independent counsel before signing because her interests were adverse to the interests of the firm.' However, Hodges proceeded to sign the revised agreement, without consulting independent counsel.' Hodges sued Reasonover & Olinde alleging legal malprac- tice after her complaint in the underlying matter was dismissed on a motion for summary judgment. 1. Hodges v. Reasonover, 2012-0043, p. 2 (La. 7/2/12); 103 So. 3d 1069, 1071. 2. Id. 3. Id. The AAA imposes filing fees on a sliding scale, in which a plaintiffs costs are proportionate to the damages sought. Hodges alleged that arbitration would cost her $18,800 because she claimed damages totaling $70 million. Id at p. 7 n.1; 103 So. 3d at 1074 n.1. 4. Id. at p. 3; 103 So. 3d at 1072. The revised fee agreement set fees on a contingency basis. Id 5. Id 6. Id. 7. Id. 1345

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