Third-Party Legal Opinion

Third-Party Legal Opinion

Definition

A legal letter delivered by one party’s lawyer to the opposing party at the closing of a transaction, the purpose of which is to provide some comfort as to the accuracy of the former party’s representations and warranties contained in the contract and any other legal matters covered by the opinion. Among other things, a third-party legal opinion might confirm a party’s corporate existence, a party’s ability to enter into the contract, compliance with certain relevant laws, and the status of litigations and various investigations.

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