TLDR:
A legal opinion is a written statement by an attorney analyzing a legal question or confirming the legal status of a transaction, relied upon by parties in complex business deals, financing transactions, and regulatory matters.
Types of Legal Opinions
Legal opinions take various forms serving different purposes. ‘Enforceability opinions’ confirm that an agreement is legally binding and enforceable under applicable law. ‘Due authorization opinions’ confirm that a company has taken all necessary corporate actions to enter an agreement and that signing representatives have proper authority. ‘No conflict opinions’ confirm that an agreement doesn’t violate other contracts, company governing documents, or applicable laws. ‘Securities law opinions’ are required for issuances to confirm that the offering is exempt from registration or properly registered.