Definition - What does Legal Opinion mean?
Legal opinion is a generic term describing a written assessment provided by a qualified expert such as an attorney or judge. When penned by a judge, this type of document details the reasoning used to reach a decision. Lawyers and others with similar expertise usually issue legal opinions in response to questions regarding certain activities, circumstances or plans.
Justipedia explains Legal Opinion
Attorneys often issue legal opinions in response to inquiries about business deals and financial matters due to their complexity and potential pitfalls. The legal opinions issued with regard to these topics generally:
- Address whether the arrangement is permissible by law.
- Pinpoint the legal ramifications of engaging in the transaction.
- Determine if there are any related issues of concern that warrant further consideration.
Legal opinions issued in connection with business or financial matters can be quite specific, depending on the nature of the inquiry.