Glossary

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Legal Opinion

A legal opinion is a written document prepared by a lawyer or law firm that provides an assessment of the legal risks and implications associated with a particular transaction, agreement, or legal issue. Typically, legal opinions are provided to clients to help them make informed decisions or to satisfy legal or regulatory requirements. A legal opinion will generally provide an analysis of the ...

Liability Cap

A liability cap is a contractual provision that limits the amount of damages that a party can be held liable for in the event of a breach of contract or other legal claim. The purpose of a liability cap is to help manage risk and provide some certainty for both parties. For example, a company may agree to a liability cap with a vendor to limit the vendor’s exposure to damages if the vendor fails...