Legal opinions - formal letters of legal advice delivered by counsel in financial transactions - are a feature of the American legal scene. They have also gained wide acceptance abroad. This article describes the standard legal opinion in an American financing and describe its uses and importance to an American lawyer. It also contains suggestions for interpreting and analyzing legal opinions.
Scott T. FitzGibbon and Donald W. Glazer. "Opinions of Counsel: What They Are and Why American Companies Ask for Them." International Business Law Journal no.7 (1991): 873-882.