Legal opinion

Definition:

A statement, usually written by a specialized law firm, required for a new municipal bond issue stating that the issue is legally acceptable.

Investing Essentials


Copyright © 2011 Campbell R. Harvey, Professor of Finance, Fuqua School of Business at Duke University

Term of the Day

Cost-of-carry market

Applies to derivative products. Futures contracts trade in a "cost-of-carry market" where the underlying commodity can be stored, insured, and converted into the future easily and inexpensively.... Read More

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