12. No Opinions That Will Mislead Recipient

An opinion giver should not give an opinion that the opinion preparers recognize will mislead the opinion recipient with regard to a matter the opinion addresses.[1]

[1] An opinion, even if technically correct, can mislead if it will cause the opinion recipient, under the circumstances,  to misevaluate the opinion.  The risk of misleading an opinion recipient can be avoided by appropriate disclosure.  An opinion giver may limit the matters addressed by an opinion through the use of specific language in the closing opinion (including a specific assumption, exception or qualification) so long as the opinion preparers do not recognize that the limitation itself will mislead the recipient.  See supra Section 10 (Varying Customary Practice).  Omissions from a closing opinion of information unrelated to the opinions given do not mislead.