A legal opinion letter is a formal document drafted by a lawyer which expresses their professional judgment on a specific legal matter. It’s not a guarantee of a particular outcome, but rather a reasoned analysis based on the facts provided and the attorney’s understanding of the law. These letters are often requested related to corporate business transactions and real estate transactions.
The purpose is to provide assurance to one or more parties that a specific legal requirement has been met or that a certain legal risk is manageable. The legal opinion letter typically includes a detailed summary of the facts, the legal issue being addressed, the applicable laws, and the lawyer’s conclusion.
The legal opinion letter may address the law of a specific jurisdiction. An example might be a South Carolina LLC which hopes to extend a certain business activity across the border to North Carolina. The company would then ask for a legal opinion letter which analyzes the legality (or legal limitations or conditions) of that same activity in North Carolina.
Legal opinion letters are a crucial tool for due diligence, helping to identify and mitigate potential legal pitfalls before a deal is finalized.
Please contact our law firm, McGrath and Spielberger, if you’re interested in a legal opinion letter.
This is part one of a blog article series by McGrath and Spielberger on Legal Opinion Letters. As the series continues, we will add the links to each new article here to make them easy to find. Next week, we will share Part 2 “The Value Of A Legal Opinion Letter”.