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Legal opinion has always proven to be a blessing. To begin with any work, be it starting your own business, buying a new property, legal advice favours the opinion seekers by suggesting not to make any mistake which can lead them to some legal issues. It can provide them best of paperwork details and save them from future tangles. Also, it becomes quite difficult for a normal human being to know all the minute legal norms, owing to which hiring a person who can give you legal opinion should be considered a matter of great importance.
In commercial transactions, a legal opinion may be required to satisfy certain conditions precedents in the transaction documents (either to enable the transaction to complete or to support a particular credit rating) and will usually be required by the lenders to give them reassurance that the legal effect of lending in the transaction concerned is what they expect it to be. Legal opinions are also used in connection with bond issues where the issuer’s legal advisor may need to provide a legal opinion to the managers of the bond issue for the purpose of providing comfort to the managers that the terms and conditions of the bonds do not contravene any laws. The opinion can also assist lender/purchaser to settle the form early to avoid last minute crunch.