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Legal Opinion On Agreement

samedi, septembre 25, 2021

All of these terms come from the common law, most of them being the American legal language. When a request for official advice is made from the United States, the addressee of the local notice must be informed in the same manner; Otherwise, a local opinion may not be effective. In view of the widespread use of legal advice, the American Bar Association began a few years ago to look more systematically at legal advice in order to break out of a certain chaos.16 Over the past fifteen years, several bar bodies have set up special committees to analyse certain aspects of possible practices in the preparation and elaboration of opinions17. international transactions. On the one hand, they are asked to provide general advice during a transaction and to ensure that their client is sufficiently protected by the contractual conditions. On the other hand, they must present legal opinions confirming the legal validity of the contractual document. Opinions are usually published in these jurisdictions on the instruction of the court and, to the extent that they contain statements about what the law is and how it should be interpreted, they reinforce, amend, establish or reverse legal precedents. If a court decides that a notice should be published, the notice may be included in a volume of a series of books called « reporters » in the United States. Notices issued by the courts are also, in summary, referred to as case law and are one of the main sources of law in common law legal systems. It is understandable that when in doubt, no prudent lender is willing to allocate funds to its borrower without being convinced that the repayment obligation is legally binding on the borrower. With the legal opinion, the lender seeks such insurance.

To this end, it requests a reasoned explanation from the borrower`s lawyer, or at least from a practicing lawyer in the borrower`s country, confirming that even the lender and his lawyer (or a practicing lawyer in that country) consider that the repayment obligation is applicable under the law of the borrower`s country10 For commercial transactions, the lender needs, in particular in the context of financing, an opinion on the borrower and the applicability of the transaction documents that the borrower must conclude. This type of advice is usually issued by the borrower`s lawyer or the lender`s lawyer, depending on the ethical rule governing the issuance of this notice for the jurisdiction. . . .

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