A Simplified Form of Closing Opinion (2019 Update) Donald W. Glazer and Stanley Keller, 74(4) 1065-1076 (Fall 2019) In 2005, we published an article about the Boston Bar Association`s simplified form of closing opinion. As described in the introduction to the article, the simplified form was based on the principles of legal advice drafted by the Legal Advice Committee of the Business Law Section of the American Bar Association (the “ABA Legal Advice Committee”). Following the publication of the Statement of Opinion Practices (the “Statement”) and the related Fundamental Principles of Opinion (the “Fundamental Principles”), we are updating this article and the simplified form to reflect the Statement and Fundamental Principles, as well as the evolution of the practice of legal advice since 2005. As stated in the explanatory note to the statement, the statement, which has been approved by many bar associations and other groups of lawyers, updates the principles of legal advice in their entirety and certain provisions of the guidelines for the preparation of final opinions, which have also been prepared by the ABA Committee on Legal Advice. The basic principles are derived from the Declaration and are designed in such a way that they are incorporated or annexed to a final notice by reference by those who so wish. Among other changes, the updated simplified form of the final notice contains the fundamental principles instead of the principles of the legal opinion. Over the years, various national and local legal organizations have published legal opinion reports. Below are links to some recent reports as a research aid for those dealing with the practice of opinion. In establishing these links, the Legal Advisory Committee does not declare that they are all existing reports, does not undertake to update these links when the reports are modified or republished, and does not necessarily endorse the content of these reports.
Finally, the Declaration sets out the fundamental principles of opinion deriving from the principles of the Declaration and suggests that they could possibly be annexed to a notice or incorporated by reference. It remains to be seen whether both proposals will find market acceptance, especially given the failure of similar practitioners` approaches to implement the now-replaced “Silverado Opinion”, developed by the ABA Section of Business Law and published as part of its previous third-party legal opinion report.  The statement also expressly adopts the general principle of liability applicable to review providers: “An opinion expresses the opinion giver`s professional judgment with respect to the legal issues addressed by the notice. It is not a guarantee that a court will come to a certain conclusion.  This is important because recipients of expert opinions may not fully understand the protection offered by a third party`s legal opinion. This is only the most informed professional judgment of a lawyer in relation to the matter covered by the opinion; This is in no way a “guarantee” in this regard or for any aspect of the transaction in general. This perspective can often be underestimated or lost in the flow of the agreement, and it is good to see that the principle is clearly emphasized by the ABA in the statement. Legal Opinions on Incorporation, Good Standing, and Qualification To Do Business Scott FitzGibbon and Donald W. Glazer, 41(2):461–81 (February 1986) This article provides a comprehensive analysis of the opinion on a corporation`s status as a corporation. He recommends standard interpretations for each standard sentence.
Legal Opinions in California Real Estate Transactions Joint Committee of the Real Property Law Section of the State Bar of California and the Real Property Section of the Los Angeles County Bar Association, 42(4): 1139–1205 (August 1987) This report addresses the legal issues and due diligence that often arise in the preparation of legal advice in real estate transactions. While the report focuses on credit transactions secured by California real estate, other transactions and issues are also discussed, and a significant portion of the analysis and conclusions should apply to real estate transactions in general. Second Addendum to Third Party Legal Notices: An Easier Path TriBar Opinion Committee, 44(2): 563–74 (February.