The Chrysler Building
405 Lexington Avenue
New York, NY 10074
(212) 704-6000 Fax (212) 704-6288
October 10, 2000
e-Auction Global Trading Inc.
220 King Street West, Suite 200
Toronto, Ontario
Canada M5H 1K7
Dear Sir or Madam:
We have acted as counsel to e-Auction Global Trading Inc., a Nevada
corporation (the "Company"), in connection with its filing of a registration
statement on Form SB-2 being filed with the Securities and Exchange Commission
under the Securities Act of 1933, as amended (the "Registration Statement"), to
which this opinion is an exhibit, coming an aggregate of 44,095,915 shares of
common stock, par value $.001 per share of the Company which the Selling
Stockholders named in the Registration Statement propose to sell pursuant to the
Registration Statement (the "Shares").
In our capacity as counsel to the Company, we have examined originals
or copies, satisfactory to us, of the Company's (i) Articles of Incorporation,
as amended, (ii) By-laws, as amended and (iii) resolutions of the Company's
board of directors. We have also reviewed such other matters of law and examined
and relied upon all such corporate records, agreements, certificates and other
documents as we have deemed relevant and necessary as a basis for the opinion
hereinafter expressed. In such examination, we have assumed the genuineness of
all signatures, the authenticity of all documents submitted to us as originals
and the conformity with the original documents of all documents submitted to us
as copies or facsimiles. As to any facts material to such opinion, we have, to
the extent that relevant facts were not independently established by us, relied
on certificates of public officials and certificates of officers or other
representatives of the Company.
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e-Auctin Global Trading Inc.
October 10, 2000
Page 2
Based upon and subject to the foregoing, we are of the opinion that the
shares were duly issued and are fully paid and non-assessable.
Our opinion is limited to the date hereof and we do not in any event
undertake to advise you of any facts or circumstances occurring or coming to our
attention subsequent to the date hereof.
Finally, we are counsel admitted to practice only in the State of New
York, and we express no opinions as to the applicable laws of any jurisdiction
other than those of the State of New York, the Delaware General Corporation Law
and the United States of America.
We hereby consent to the use of our name under the caption "Legal
Matters" in the prospectus constituting a part of the Registration Statement and
to the filing of this opinion as an exhibit to the Registration Statement. In
giving this consent, we do not thereby admit that we are within the category of
persons whose consent is required under Section 7 of the Act, the rules and
regulations of the Securities and Exchange Commission promulgated thereunder or
Item 509 of Regulation S-B promulgated under the Act.
Very truly yours,
PARKER CHAPIN LLP
