What is the purpose of a legal opinion?
Asked by: Jon Romaguera PhD | Last update: December 14, 2025Score: 4.3/5 (63 votes)
The purpose of a legal opinion in a transaction is to provide an additional layer of assurance to the party receiving the opinion. In loan transactions in the United States, it is customary for the borrower's counsel to provide an opinion to the lender (but not vice versa).
What is the benefit of a legal opinion?
Legal opinions confirm various legal matters, typically including topics such as that a transaction complies with applicable laws and that the rights and obligations of the parties involved are enforceable. Oftentimes, these opinions mirror warranties provided by the company to investors already.
What is the purpose of a court opinion?
What is an Opinion? When a judge hears a case and arrives at a judgment, an explanation or analysis of the reasoning behind the decision is frequently written. The analysis, called an opinion, is then published in the “Reporter” for the court. Significant decisions are published also in other Reporters.
What is the purpose of asking why about a legal opinion?
What is the purpose of asking "why" about a legal opinion? We will be more likely to identify those legal rules for which there are strong reasons.
What does a legal opinion letter do?
A third party legal opinion, commonly referred to as an “Opinion Letter”, is a letter issued by an attorney to advise a client of legal risks and resolve legal uncertainties. An Opinion Letter assures the recipient that their conduct is legal and confirms within the existence of legal relationships.
Legal Opinion
Is a legal opinion binding?
The Attorney General's opinions are advisory, and not legally binding on courts, agencies, or individuals.
What is the purpose of the opinion letter?
The opinion letter is used in credit analysis to help determine whether to lend to a borrower or not. Lenders often require an opinion letter to act as proof of legal counsel's advice and conclusions regarding the loan documents relevant to the transaction.
How much does a legal opinion cost?
A legal opinion costs between $2,000 and $10,000, covering the fees for obtaining expert advice from an attorney on a legal issue.
Why do lawyers ask if they can approach?
An attorney may approach the bench in order to have a conversation with the judge and opposing counsel off the record and/or out of the jury's earshot. An attorney or juror must obtain permission from the judge to approach; e.g. "your honor, may I approach the bench?" For example, in People v.
What is the legal opinion clause?
The Legal Opinion clause usually specifies by name the legal counsel that must deliver the opinion and states that the opinion must be dated as of the closing date of the transaction.
Who gets to decide who writes the opinion of the court?
After the votes have been tallied, the Chief Justice, or the most senior Justice in the majority if the Chief Justice is in the dissent, assigns a Justice in the majority to write the opinion of the Court. The most senior justice in the dissent can assign a dissenting Justice to write the dissenting opinion.
What is the difference between an opinion and a decision?
A decision is a loose term for the set of opinions that accompany an order, combined with that order. There may be more than one case associated with a particular decision. An opinion is a general term describing the written views of a judge or judges with respect to a particular order.
What is the rule of four?
On the face of it, the Supreme Court's “Rule of Four” is straightforward. Where the justices have discretion as to whether to hear an appeal, at least four of the Court's members must vote to grant a writ of certiorari, which facilitates a full review on the merits.
Why are court opinions important?
There are three reasons why an opinion of the court is considered to be extremely important. These opinions can: (1) establish precedent, (2) provide guidance to the bar and the public, and (3) explain the court's reasoning.
What is a reasonable opinion?
An opinion that a reasonable person could hold is a reasonable opinion. It does not have to be the only reasonable opinion that could be held, or the 'most' reasonable opinion. We do not have to agree with the opinion; we only have to recognise that a reasonable person could hold it.
Can lawyers give opinions?
Ethics rules permit an attorney to make certain statements to a self-represented individual who is adverse to their own client. The attorney may identify general legal issues that a self-represented person should address and may also discuss undisputed statements or facts of law.
What is the difference between a legal opinion and a legal advice?
A legal opinion is an attorney's analysis based on past or present facts, while legal advice is an attorney's counsel and guidance as to what future actions the client should take.
Can asking for a lawyer be used against you?
Even if officers continue to ask questions or suggest that staying silent looks suspicious, stay firm. Your right to an attorney is protected, and asserting it does not imply guilt. In fact, exercising this right shows that you understand the importance of having fair representation.
Does your lawyer have to do what you say?
Does My Lawyer Have to Do What I Say? Absolutely. Ultimately, your attorney has an obligation to discuss your options and settlement offers with you and allow you to decide the direction of the case.
What is the value of a legal opinion?
The purpose of a legal opinion in a transaction is to provide an additional layer of assurance to the party receiving the opinion. In loan transactions in the United States, it is customary for the borrower's counsel to provide an opinion to the lender (but not vice versa).
What is a reasonable attorney fee?
COURT AWARDED ATTORNEY'S FEES - WHAT IS 'REASONABLE'?
THE DISCRETION OF THE COURTS IN DETERMINING THE PROPER AMOUNT OF A FEE AWARD IS FOUND NOT TO BE UNLIMITED IN EITHER CONTEXT. IN BOTH CONTEXTS, A REASONABLE FEE IS ONE THAT AWARDS THE ATTORNEY THE MARKET VALUE OF THE TIME AND EFFORT JUSTIFIABLY EXPENDED.
Will a lawyer take a losing case?
If they can't sufficiently prove your case, a personal lawyer may refuse to take it. Remember, lawyers, do not like to take cases they don't think they can win. A lot of hours go into preparing a lawsuit involving more people than just the attorneys.
Why do you need a title opinion?
Title opinions are extremely important for any real estate investment as they help you uncover potential issues that may impact the transaction. By identifying title defects, ownership discrepancies, boundary disputes, legal claims, and restrictions, they ensure a secure investment and prevent legal disputes.
What is a reasoned legal opinion?
By contrast, a reasoned opinion usually addresses unsettled, nuanced or complex legal issues that require more detailed analysis. A non-consolidation bankruptcy opinion, for instance, usually rendered only after analyzing applicable law and the economic relationship of the parties, would be a reasoned opinion.
What is the purpose of writing the opinion of the court?
Each opinion sets out the Court's judgment and its reasoning and may include the majority or principal opinion as well as any concurring or dissenting opinions. All opinions in a single case are published together and are prefaced by a syllabus prepared by the Reporter of Decisions that summarizes the Court's decision.