At some point during their years of practice, most corporate or transactional lawyers will be asked to work on a legal opinion for the closing of a deal in progress in their law firm or legal department. Their assignment is to prepare the first draft of a closing opinion letter, which will be reviewed and revised by a partner or other more experienced lawyers, perhaps including a formal opinion committee. The letter is to be addressed and delivered to the other side at the closing – and is therefore called a “third-party” opinion letter.
Click here to read more of this article by Herrick K. Lidstone, Jr.
