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Chapter 1: |
Third-Party Closing Opinions; Duties and Roles |
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- § 1:1 : “Opinions” and “Opinion Letters”; “Opinion Givers”—“Opinion Recipients”; “Opinion Preparers”; “Opinion Request”—“Opinion Requirement”1-2
- § 1:1.1 : Required Expertise1-2
- § 1:1.2 : Scope1-3
- § 1:1.3 : Overview of Significant Terminology1-3
- § 1:1.4 : Opinion Preparer Concept1-5
- § 1:2 : Closing Opinion Rationale: One Aspect of Business Due Diligence1-6
- § 1:3 : Closing Opinion Needs Are Primarily a Business Question1-6
- § 1:4 : Closing Opinion; the Opinion Letter As a Condition of Closing: “Agreement” Versus “Undertaking”1-8
- § 1:5 : The Closing Opinion As the Only Available Advice on Effectiveness in a Dispute-Oriented Legal System1-10
- § 1:6 : Client Is in Full Control of Closing Opinion Delivery to Third Party but Does Not Control Content of Closing Opinion1-11
- § 1:7 : Closing Opinion Acceptability1-12
- § 1:7.1 : The Two Faces of Closing Opinion Acceptability1-12
- § 1:7.2 : Acceptability of the Opinion Giver1-13
- § 1:7.3 : Acceptability of Opinion Letter Content: Opinion Limitations1-14
- § 1:8 : Duty to a Third Party—The Recipient’s Right to Rely on Closing Opinions; Does Reliance Require That a Closing Opinion Be Given at the Client’s Request?1-16
- § 1:9 : Customary Practice and the Extent of the Duty to Understand It; Customary Usage and Customary Diligence1-18
- § 1:10 : The Empty Closing Opinion Problem1-20
- § 1:11 : Avoiding Over-Exceptioning1-21
- § 1:12 : Additional Opinions: Local Counsel; Specialized Counsel; Inside Counsel; “Additional Opinion Counsel”1-22
- § 1:13 : Corporate Law Departments—Inside Counsel1-23
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Chapter 2: |
Vocabulary and Usage in Closing Opinion Practice |
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- § 2:1 : “It Is Our Opinion”: Stating and Limiting Opinions2-2
- § 2:1.1 : Exceptions and Assumptions: “Exceptions” Include Opinion Limitations and Qualifications; Exception Form2-2
- § 2:1.2 : When Is the Opinion “Unclear”?2-3
- § 2:2 : The Significance of Vocabulary and Usage in Customary Practice2-4
- § 2:3 : The (Un)Qualified Closing Opinion; the “Clean” Closing Opinion Ideal2-5
- § 2:4 : Reasoned (or Explained) Opinions/Qualified and Unqualified2-6
- § 2:5 : Standard Exceptions2-7
- § 2:6 : “Stated” or “Specific” Exceptions2-8
- § 2:7 : No “Updating” of Third-Party Closing Opinions2-8
- § 2:8 : The “Opinion Pyramid” and the Separate Significance of Each Opinion2-9
- § 2:9 : Parallel Options—The Traditional Starting Point for Closing Opinions Has Eroded2-10
- § 2:10 : The “Umbrella” Opinion Versus the Unbundled Opinion2-11
- § 2:11 : Spread of the Bankruptcy Exception and Equitable Principles Limitation Beyond the Remedies Opinion2-13
- § 2:12 : Distinguishing Between “Future” Opinions and Performance Opinions2-14
- § 2:12.1 : Need for Performance Opinion2-14
- § 2:12.2 : Limits of Performance Opinions2-14
- § 2:12.3 : The Many Faces of Future Opinions2-15
- § 2:13 : The Use of Assumptions of Law2-16
- § 2:14 : To My Knowledge/I Have No Knowledge2-16
- § 2:14.1 : “To My Knowledge” As a Concept Related to Facts2-16
- § 2:14.2 : “To My Knowledge” Fails As a Limitation2-16
- § 2:14.3 : Negative Assurance2-17
- § 2:15 : “Public Policy” Is Unacceptable As an Exception2-18
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Chapter 3: |
Underlying Assumptions Shape Closing Opinion Practice |
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- § 3:1 : Assumptions That Shape Opinion Practice3-2
- § 3:2 : Customary Practice Is the Principal Basis for Closing Opinion Giving and Provides a Measure for Determining Whether There Is Liability to Third Parties3-2
- § 3:3 : A Conservative Approach Is Required When Opinions Are Given to a Nonclient on Behalf of a Client3-5
- § 3:3.1 : Restrictions Applicable to Opinions to Nonclients3-5
- § 3:3.2 : Minimization of Opinions by Implication: The Limits of Opinion Giver Legal Knowledge3-7
- § 3:3.3 : Avoiding Novel Opinion Forms3-9
- § 3:3.4 : The Represented Closing Opinion Recipient3-9
- § 3:3.5 : The Golden Rule3-10
- § 3:3.6 : Current Oblique Customary Practice Statement: New Statement Suggested3-10
- § 3:3.7 : Limitation on Further Use of a Closing Opinion Letter3-11
- § 3:4 : The Preference for No-Exception Closing Opinions3-13
- § 3:5 : Flexibility and the “Four Corners” Approach: Standard Customary Diligence3-13
- § 3:6 : Closing Opinion Date and Practicality Limitations3-14
- § 3:7 : Centrality of the “Law-Covered” Limitation3-16
- § 3:8 : Fair Play in Closing Opinion Giving; the Misleading Closing Opinion3-16
- § 3:9 : The Closing Opinion Recipient Has No Diligence Duty3-18
- § 3:10 : Some Areas Excluded from Closing Opinion Coverage by Customary Practice3-19
- § 3:11 : Closing Opinions Are Professional Judgments, Not Guarantees3-21
- § 3:12 : The ABA Accord Alternative to Customary Practice3-21
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Chapter 4: |
The Thought Process of the Closing Opinion Preparer--Emulating the Hypothetical Contemporaneous Court |
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- § 4:1 : From Advocate to Objective Observer ;the Changed Mindset of the Opinion Preparer4-1
- § 4:2 : The Predictive Quality of Opinions4-3
- § 4:3 : The Time Frame for the Closing Opinion4-4
- § 4:4 : Applying the Facts As Well As the Law to the Appropriate Time Frame4-5
- § 4:5 : As to the Remedies Opinion and Other “Future Opinions,” “Future Facts” Must Be Used to Test Defenses4-5
- § 4:6 : Governing Law to Be Applied4-8
- § 4:7 : Knowledge of the Opinion Preparer4-9
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Chapter 5: |
Establishing Facts and the Use of Factual Assumptions |
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- § 5:1 : Central Role of Facts in Opinions5-2
- § 5:2 : Truth, Facts, and the Limits of Commercially Reasonable Agreement-Based Fact Finding5-2
- § 5:3 : Customary Diligence As to Facts5-4
- § 5:4 : Supporting the Validity of the Commercially Reasonable Factual Search5-5
- § 5:5 : The Patchwork Quilt of Facts and Assumptions5-6
- § 5:6 : The Quality of the Patchwork—A Preference for Corporate Officer Certificates As to Client Information5-8
- § 5:7 : The Acceptance of Client and Client-Related Representations5-9
- § 5:8 : The Concept of “Establishing Facts”5-10
- § 5:9 : The Formality of “Establishing Facts”5-11
- § 5:10 : The “Appropriate Source” Requirement for Establishing Facts and the Automatic Deference to Filing Officers As the Appropriate Source5-12
- § 5:11 : Unreliable Information and the “Irregular on Its Face” Limitation on Establishing Facts5-14
- § 5:12 : The “Ultimate Fact” Limitation on Establishing Facts; Fact Certifications Tantamount to the Opinion to Be Given5-15
- § 5:13 : Permitted Reliance on Ultimate Facts from Certain Public Agencies5-16
- § 5:14 : Drafting—Reviewing Factual Certificates5-17
- § 5:15 : Facts and the Opinion Giver’s Knowledge—A High-Risk Area5-17
- § 5:16 : The Use of Assumptions As Fact Substitutes5-20
- § 5:17 : Assumptions of Fact—Unstated and the Presumption of Regularity5-21
- § 5:18 : Assumptions of Fact—Stated5-22
- § 5:19 : Facts Available in the Opinion Giver’s Office5-22
- § 5:20 : Opinion Preparers and the Handling of Factual Material5-23
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Chapter 6: |
The Remedies Opinion |
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- § 6:1 : Negotiation of Agreements and the Practical Value of the Remedies Opinion6-3
- § 6:2 : Remedies Opinion and Enforceability Opinion Are Synonymous; The Opinion Is to Be Read As a Unit6-5
- § 6:3 : Remedies Opinion Covers: Agreement Formation and Effectiveness of Undertakings6-5
- § 6:4 : The Structure of Agreements: “Undertakings” Versus “Agreements”6-6
- § 6:5 : Scope of the Term “Undertaking”6-6
- § 6:6 : Remedies Opinion Covers Undertakings by the Client—Not the Opinion Recipient’s Undertakings6-7
- § 6:7 : Meaning and Scope of the Remedies Opinion6-7
- § 6:8 : Relating Scope to Timing6-8
- § 6:9 : Legal Remedy Versus Practical Relief6-9
- § 6:10 : Lack of Need to Define “Remedy”6-10
- § 6:11 : The “Practical Realization” Limitation6-10
- § 6:12 : An Inappropriate Form of Practical Realization Opinion6-11
- § 6:13 : Acceptable Forms of the Remedies Opinion6-13
- § 6:14 : Evolution of Remedies Opinion Custom6-13
- § 6:15 : Remedies Opinion Exceptions; Agreement Exceptions and Specific Exceptions6-13
- § 6:16 : Agreement Exceptions (Including Unstated Limitations) to Remedies Opinions6-15
- § 6:16.1 : The Unavoidability of Agreement Exceptions Including Unstated Limitations6-15
- § 6:16.2 : The So-Called “Bankruptcy Exception”6-15
- § 6:16.3 : Equitable Principles (Including Reasonableness and Fair Dealing) Limitation6-18
- [A] : Traditional Concepts of Equity6-20
- [B] : Materiality6-20
- [C] : Reasonableness, Good Faith, and Fair Dealing6-20
- § 6:16.4 : Comity and the Allied Bank Case6-21
- § 6:16.5 : Presidential Powers Under TWEA and IEEPA6-22
- § 6:16.6 : Inherent Limitations on Governing Law6-23
- § 6:17 : Specific Exceptions to Remedies Opinions6-24
- § 6:18 : Formation of an Agreement6-24
- § 6:19 : Violation of Foreign Law As an Opinion Exception6-25
- § 6:20 : The Remedies Opinion and Arbitration6-26
- § 6:21 : Submission to Jurisdiction Provisions6-26
- § 6:22 : Economic Remedies—Liquidated Damages, Late Fees, Default Interest Rates—Reasonableness Test6-27
- § 6:23 : Waiver of Right to Jury Trial; Charging Interest on Interest6-27
- § 6:24 : Chosen Law6-28
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Chapter 7: |
Agreement Characteristics, Opinions, and Multi-Jurisdictional Transactions |
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- § 7:1 : Agreements and Forward-Looking Opinions7-2
- § 7:2 : The Three Categories of Rights Addressed by Opinions7-3
- § 7:3 : Chosen (Governing) Law Provisions7-4
- § 7:4 : Choice of Law Rules Apply to Limit Chosen Law7-4
- § 7:5 : The “One-State” Lawyer and Multi-Jurisdictional Transactions7-5
- § 7:5.1 : Opinions by the Non-Admitted Lawyer7-7
- § 7:5.2 : The Non-Admitted Lawyers’ Practice of Giving Delaware General Corporation Law Opinions7-7
- § 7:5.3 : Most Non-Admitted Lawyers Do Not Give New York Financing Opinions; “Home Jurisdiction” Remedies Opinion Is Often Useful and Available from the Non-Admitted Lawyer7-8
- § 7:5.4 : The Non-Admitted Lawyers’ Practice As to Limited Liability Company and Real Estate Opinions7-9
- [A] : Real Estate7-9
- [B] : Limited Liability Companies7-9
- § 7:5.5 : The Non-Admitted Lawyer and Qualification to Do Business and Good Standing Opinions7-11
- § 7:5.6 : Claims and No Conflict with Other Agreements Opinions in the Multi-State Setting7-11
- § 7:6 : A Cost-Benefit Analysis for Multi-Jurisdictional Opinions7-11
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Chapter 8: |
General Form of Third-Party Opinion Letters |
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- § 8:1 : Brevity and the Absence of Surplusage; the Kitchen-Sink Opinion Problem8-3
- § 8:2 : The Structure of the Opinion Letter8-3
- § 8:3 : The Primacy of the “Laws-Covered” Language: Lack of Application of Laws-Covered Language to Litigation and to “No Breach or Default” Opinions8-5
- § 8:4 : The Date—A Setting for the Opinion8-7
- § 8:4.1 : The Opinion Date—Normally, the Closing Date8-7
- § 8:4.2 : When the Opinion Date Is Not the Closing Date8-8
- § 8:4.3 : Delivering an Opinion at a Distance8-9
- § 8:5 : Reliance Rights8-10
- § 8:5.1 : Reliance Rights of the Addressee8-10
- § 8:5.2 : Reliance Rights of the Non-Addressees8-11
- § 8:5.3 : Identification of Addressees and Others Entitled to Rely8-12
- § 8:5.4 : Who Should Be the Addressee of a Local or Specialized Counsel’s Opinion That Is Relied On by the Opinion Giver?8-13
- § 8:6 : The Opinion Requirement Source and Transaction Description8-13
- § 8:7 : The Identification and Description of Activity of Counsel8-15
- § 8:8 : Use of Defined Terms8-16
- § 8:9 : Custom As to Deviations from Customary Practice8-17
- § 8:10 : The General Rule That There Is No Limitation on Matters Investigated (Except As Stated)8-18
- § 8:11 : Assumption As to the Authorization of the Other Side8-19
- § 8:12 : Dealing with Multi-Jurisdictional and Specialized Law Situations8-20
- § 8:12.1 : Limitations Applicable to Laws-Covered Limitation8-20
- § 8:12.2 : Reliance on Local or Specialized Counsel; Concurrence and Satisfactory in Substance Versus Satisfactory in Form and Scope; Non-Reliance8-21
- [A] : Reliance on Other Counsel8-21
- [B] : Statement That Reliance Is Justified8-23
- [C] : Statement of Concurrence8-23
- § 8:13 : Signatures8-24
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Chapter 9: |
Characteristic Third-Party Opinions |
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- § 9:1 : The Three-Set Opinion Pattern9-3
- § 9:2 : Identifying and Defining the Party Whose Status Is at Issue9-4
- § 9:3 : Opinions as to Entity Status9-6
- § 9:3.1 : Incorporated Status, Organization, and Valid Existence9-8
- [A] : Incorporation9-9
- [B] : Organization Requirements for Commencing Corporate Activity9-10
- [C] : Valid Existence and the Continued Entitlement to Entity Status9-10
- [D] : LLC and Other Non-Corporate Entity Opinions9-11
- § 9:3.2 : Good Standing and Qualification to Do Business9-12
- [A] : State Taxation Enforcement9-12
- [B] : The Key Significance of the Certificates Themselves9-12
- [C] : Formulating the “Doing Business” Opinion Request9-13
- § 9:4 : Claims Including Litigation9-14
- § 9:4.1 : Claims and the Corporate Due Diligence System9-15
- § 9:4.2 : Litigation or Claims Concerning the Transaction9-16
- § 9:4.3 : No-Investigation Opinions9-16
- § 9:5 : Handling “Materiality” as an Opinion Term9-16
- § 9:6 : Opinions About the Transaction9-17
- § 9:6.1 : Contravention of Law9-17
- § 9:6.2 : Breach of Other Agreements9-18
- § 9:6.3 : Governmental Approvals9-19
- § 9:6.4 : Corporate Power and Authority9-20
- [A] : Corporate Power9-21
- [B] : Corporate Authorization and Fiduciary Duty9-21
- [C] : Other Entity Power and Authority9-24
- § 9:6.5 : No Conflict with the Certificate of Incorporation or Bylaws9-24
- § 9:6.6 : Conflict with Non-Corporate Entity Governing Documents9-25
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Chapter 10: |
Closing Opinion Letters: The Role of Recipient's Counsel |
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- § 10:1 : Recipient’s Counsel Owes a Duty to Its Client Only10-2
- § 10:2 : Opinion Literature Regarding the Opinion Recipient and Its Counsel10-2
- § 10:3 : Extent of the Duty of Recipient’s Counsel to Its Client10-3
- § 10:4 : Varied Roles for Recipient’s Counsel10-4
- § 10:5 : Acceptability of Counsel: Relation to Governing Law of Deal Documents10-7
- § 10:6 : Acceptability of Closing Opinion Letter Content10-8
- § 10:7 : Opinion Coverage10-9
- § 10:7.1 : Information About the Opinion Giver’s Client10-10
- § 10:7.2 : Is a Remedies Opinion Required?10-11
- § 10:7.3 : Status; Power and Authorization Questions As to Regulated, Governmental, Subsidiary, and Fiduciary Parties10-11
- § 10:7.4 : Supplementing Opinion Coverage to Deal with the Opinion Letter Laws-Covered Limitation10-11
- § 10:8 : The Business Diligence Analysis of Opinions10-12
- § 10:9 : A Preliminary Checklist for Assessing the Proposed Opinion10-13
- § 10:9.1 : Customary Practice Meaning and Statement10-13
- § 10:9.2 : Opinion Date10-13
- § 10:9.3 : Acceptability of Counsel10-14
- § 10:9.4 : Reliance by Opinion Recipient’s Counsel10-14
- § 10:9.5 : Reliance by Non-Addressees10-14
- § 10:9.6 : Laws-Covered Limitation10-14
- § 10:9.7 : Performance Opinion10-14
- § 10:9.8 : Acceptability of Knowledge Limitations10-14
- § 10:9.9 : Negotiations on Materiality Limits10-15
- § 10:9.10 : Opinion Signature10-15
- § 10:9.11 : The Form of Bankruptcy Exception10-15
- § 10:9.12 : Entity and Authorization Questions10-15
- § 10:10 : Getting the Opinion Letter at or Before Closing10-15
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Chapter 11: |
Opinion Preparer's Handling of Opinion Requests and the Overall Opinion Situation |
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- § 11:1 : The Opinion Preparer’s Role11-1
- § 11:2 : The Initial Opinion Request11-2
- § 11:2.1 : Reviewing the Initial Opinion Request11-3
- § 11:2.2 : An Opportunity to Educate the Opinion Recipient11-3
- § 11:3 : When There Is Only a Non-Specific Opinion Request11-4
- § 11:4 : Avoiding Delay and Anticipating Costs—Dealing with Issues and Other Counsel11-4
- § 11:5 : The Time for a Detailed Response to the Refined Opinion Request11-5
- § 11:6 : Granting Non-Addressees Reliance in an Opinion Letter11-6
- § 11:7 : The Client’s Role in the Opinion Request Negotiation11-7
- § 11:7.1 : Access to the Client and Reducing Opinion Costs11-7
- § 11:8 : Last-Minute Exceptions Taken from Other Opinions11-8
- § 11:9 : Anticipating the Final Comments of Opinion Recipient’s Counsel11-8
- § 11:10 : Comments from Other Interested Parties11-9
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Chapter 12: |
The Opinion Committee: Internal Standards for Opinion Giving |
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- § 12:1 : Opinion Committees Are Common in Firms with a Substantial Corporate Practice12-1
- § 12:2 : Specialization and the Opinion Committee12-2
- § 12:3 : Multi-Jurisdictional and Transnational Law Practice, Law Firm Mergers, Lateral Partners and the Opinion Committee12-3
- § 12:4 : Typical Opinion Committee Patterns12-4
- § 12:4.1 : Educational Activities12-4
- § 12:4.2 : Hotlines12-4
- § 12:4.3 : Second-Partner Review12-4
- § 12:4.4 : Reviewing the Unusual Opinion12-5
- § 12:4.5 : Formal Versus Informal Opinion Consultation12-5
- § 12:4.6 : Practice Leader Opinion Coordination12-6
- § 12:5 : Opinion Review Partner (Lawyer) Role in Controlling Deal Liability12-6
- § 12:6 : Self-Assessment Regarding Closing Opinions12-7
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Chapter 13: |
Ethics and Professional Liability |
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- § 13:1 : The Ethical Propriety of Third-Party Opinions13-2
- § 13:1.1 : Fair and Objective but Not Independent13-2
- § 13:1.2 : No Disclosure to a Third Party Since Duty to the Client Is Disclosed13-3
- § 13:2 : Whose Opinion Is It—Opinion Giver’s or Opinion Preparer’s?13-3
- § 13:3 : Privity, Near Privity, and Liability13-5
- § 13:4 : Model Rule 2.313-6
- § 13:5 : Restatement (Third) of the Law Governing Lawyers,Sections 51 and 9513-6
- § 13:6 : Customary Practice and Liability13-7
- § 13:7 : Customary Practice Contemplates a National Custom Rather Than a Local-Practice Standard13-8
- § 13:8 : Customary Practice—The Specialist and the “Below-Average” Lawyer13-9
- § 13:9 : Client Confidentiality13-9
- § 13:10 : Liability to a Client for Negligent Acceptance of an Opinion13-11
- § 13:11 : Anti-Third-Party Legal Opinion Legislation—Rhode Island13-11
- § 13:12 : Limiting Opinion Liability to Clients and Nonclients13-11
- § 13:13 : Fraud and Opinions13-12
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Chapter 14: |
Opinions About Non-Corporate Entities and Arrangements |
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- § 14:1 : Introduction14-2
- § 14:2 : Two Types of Non-Corporate Entity14-2
- § 14:2.1 : Statutory Permission Entities14-2
- § 14:2.2 : Common-Law Arrangements14-3
- § 14:3 : Establishing Relevant Documentation14-4
- § 14:3.1 : Statutory Permission Entities14-4
- § 14:3.2 : Common-Law Entities14-4
- § 14:4 : Status Opinions14-5
- § 14:4.1 : Formation—Organization14-5
- § 14:4.2 : Existence and Good Standing14-6
- § 14:5 : Power and Authority14-6
- § 14:5.1 : Power14-6
- § 14:5.2 : Action14-7
- § 14:5.3 : Other Opinions14-7
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Chapter 15: |
Closing Opinions to Clients |
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- § 15:1 : Introduction15-2
- § 15:2 : Formal Letter Versus Informal Advice15-2
- § 15:3 : Responsibility to the Client Depends on Context of Entire Engagement15-3
- § 15:4 : Responsibility After Closing15-3
- § 15:5 : Identifying the Client15-4
- § 15:5.1 : Organization Is the Client, Not an Officer of It15-4
- § 15:5.2 : All Members of the Group May Be Clients15-4
- § 15:5.3 : Client Successors15-5
- § 15:6 : Advice to Clients in the Regulatory Context15-5
- § 15:6.1 : Primacy of Regulatory Context15-5
- § 15:6.2 : Sarbanes-Oxley and the Regulation of Client Advice Under the Securities Laws15-5
- § 15:7 : Limited Applicability of Third-Party Customary Practice to Opinions to Clients15-6
- § 15:7.1 : Customary Usage15-6
- § 15:7.2 : Customary Diligence15-6
- § 15:8 : Significant Differences from Third-Party Opinions15-7
- § 15:9 : Will Opinion to the Client Be Implied from a Third-Party Opinion?15-8
- § 15:10 : Liability for an Opinion Negligently Given to a Client15-9
- § 15:11 : Statute of Limitations Questions15-9
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Chapter 16: |
Handling Liability Claims |
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- § 16:1 : Introduction16-2
- § 16:1.1 : Level of Experience16-2
- § 16:1.2 : Critical Environment16-3
- § 16:2 : Legal Malpractice Terminology16-4
- § 16:2.1 : Legal Malpractice and Ethics Terminology16-4
- [A] : Standard of Care and Standard of Conduct16-4
- [B] : Legal Malpractice Versus Legal Ethics16-5
- [C] : Perceived Errors Versus Actual Errors16-5
- [D] : Potential Claims Versus Actual Claims16-6
- § 16:2.2 : Legal Malpractice Insurance Terminology16-6
- § 16:2.3 : Legal Malpractice Litigation Terminology16-7
- [A] : Experts16-7
- [B] : Motions to Dismiss16-7
- [C] : Motions for Summary Judgment16-9
- § 16:3 : Distinction Between Perceived Errors and Actual Errors16-9
- § 16:4 : Confidentiality and Waiver16-10
- § 16:5 : Remedial Actions, Consents and Admissions16-12
- § 16:5.1 : Unilateral Action16-12
- § 16:5.2 : Consent16-13
- § 16:5.3 : Admissions16-13
- § 16:5.4 : Statutes of Limitations16-13
- § 16:6 : Location, Location, Location16-14
- § 16:7 : Insurance Coverage Issues16-15
- § 16:8 : Communications with Insurance Carriers16-16
- § 16:9 : Selecting Defense Counsel16-16
- § 16:10 : Practical Suggestions16-17
- § 16:10.1 : Introduction16-17
- § 16:10.2 : Responsiveness to Potential or Actual Claims16-18
- § 16:10.3 : Advance Planning16-18
- § 16:10.4 : Complaints by Private Third Parties16-19
- § 16:10.5 : Complaints by the Client16-20
- § 16:10.6 : Complaints by Governmental Entities16-21
- § 16:10.7 : Selecting Consultative Experts and Testimonial Experts16-21
- [A] : Consultative Experts16-21
- [B] : Retaining Testimonial Experts16-22
- [C] : Testimonial Expert’s Qualifications16-22
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Chapter 17: |
Getting Started: An Outline for Those Beginning to Learn About Opinions |
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- § 17:1 : Introduction17-1
- § 17:2 : History17-1
- § 17:3 : Vocabulary17-2
- § 17:4 : Ethical Framework17-2
- § 17:5 : The Opinion Giver’s Degree of Certainty17-2
- § 17:6 : Liability to the Closing Opinion Recipient17-2
- § 17:7 : The Customary Practice System17-3
- § 17:8 : Basic Reading About Opinions17-3
- § 17:9 : Realistic Limits on Legal Opinions—Time, Cost and Context17-3
- § 17:10 : Opinion Letter Paragraphs Versus Opinions17-4
- § 17:11 : The Opinion Letter As an Attempt to Transmit Information17-4
- § 17:12 : Professional Risk and a Conservative Approach17-4
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Chapter 18: |
Appendix A: ABA Guidelines II |
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Chapter 19: |
Appendix B: ABA Principles; And Appendix B1: Multi-Bar Statement on the Role of Customary Practice in the Preparation and Understanding of Third-Party Legal Opinions |
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Chapter 20: |
Appendix C: Third-Party "Closing" Opinions |
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Chapter 21: |
Appendix D: Restatement (Third) of the Law Governing Lawyers Section 95 |
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Chapter 22: |
Appendix E: Restatement (Third) of the Law Governing Lawyers Section 51 |
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Chapter 23: |
Appendix F: Model Rule 2.3 |
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Chapter 24: |
Appendix G: Restatement (Second) of the Law of Torts Section 299A |
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Chapter 25: |
Appendix H: Restatement (Second) of the Law of Torts Section 552 |
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Chapter 26: |
Appendix I: TriBar U.C.C. Security Report |
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Chapter 27: |
Appendix J: ABA Closing Opinions of Inside Counsel Report |
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Chapter 28: |
Appendix K: Negative Assurance in Securities Offerings (2008 Revision) |
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Chapter 29: |
Appendix L: Third-Party Closing Opinions: Limited Liability Companies |
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Chapter 30: |
Appendix M: The Remedies Opinions: Deciding When to Include Exceptions and Assumptions |
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Chapter 31: |
Appendix N: Law Office Opinion Practice |
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Chapter 32: |
Appendix O: TriBar Opinion Committee: Duly Authorized Opinions on Preferred Stock |
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Chapter 33: |
Appendix P: TriBar Opinion Committee: Opinion in the Bankruptcy Context: Rating Agency, Structured Financing and Chapter 11 Transactions |
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Chapter 34: |
Appendix Q: Citibar Committee on Bankruptcy and Corporate Reorganizations (N.Y.): Preparation of Substantive Consolidation Opinions |
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Chapter 35: |
Appendix R: Third-Party "Closing" Opinions Section 1.9 Opinion Terminology |
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Chapter 36: |
Appendix S: Rule 4.1: Truthfulness In Statements to Others |
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Chapter 37: |
Forms 1-5 |
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Chapter 38: |
Table of Authorities |
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Chapter 39: |
Index to Legal Opinions in Business Transactions |
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