What are the consequences of a contingency fee agreement?

Under sections 23 to 25 of the Solicitors Act, any question respecting the validity or effect of contingency fee agreements may be examined and determined by the court, and if it appears to the court that the agreement is "in all respects fair and reasonable between the parties" it may be enforced by the court in such manner as the court thinks fit; however, if the terms are deemed not to be fair and reasonable, the agreement may be declared void and the court may order it cancelled, directing costs, fees and other charges to be assessed in the ordinary manner, which includes compensation for financial risks assumed, skill, diligence, and success achieved: Du Vernet v. 1017682 Ontario Ltd., supra at paras. 17, 26.