Also called an opinion letter. An opinion from lawyers issued in letter form expressing legal conclusions about and/or legal analysis of a transaction or matter which is relied on by the addressee of the opinion. The main purposes of a legal opinion are: To inform the addressee of the legal effect of a transaction or matter. To identify legal risks that the addressee should consider further and evaluate. For example, in a cross-border transaction, a legal opinion may be obtained from lawyers in a foreign jurisdiction opining on whether a transaction document is valid and enforceable in that jurisdiction and complies with local law. A legal opinion is not a substitute for legal advice which, in a transactional context, is likely to be more extensive. Also called an opinion letter. An opinion from lawyers issued in letter form expressing legal conclusions about and/or legal analysis of a transaction or matter which is relied on by the addressee of the opinion. The main purposes of a legal opinion are: To inform the addressee of the legal effect of a transaction or matter. To identify legal risks that the addressee should consider further and evaluate. For example, in a cross-border transaction, a legal opinion may be obtained from lawyers in a foreign jurisdiction opining on whether a transaction document is valid and enforceable in that jurisdiction and complies with local law. A legal opinion is not a substitute for legal advice which, in a transactional context, is likely to be more extensive.
