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Exhibit 5
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(Letterhead of Cahill Gordon & Reindel)
July 25, 2000
Dean Witter Reynolds Inc.
Two World Trade Center
New York, New York 10048
Re: Morgan Stanley Dean Witter Select
Equity Trust The Competitive Edge
Best Ideas Portfolio Series 2000-3
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Gentlemen:
We have acted as special counsel for you as Depositor of the Morgan
Stanley Dean Witter Select Equity Trust The Competitive Edge Best Ideas
Portfolio Series 2000-3 (the "Trust"), in connection with the issuance under the
Trust Indenture and Agreement, dated September 30, 1993,as amended and the
related Reference Trust Agreement, dated July 25, 2000 (such Trust Indenture and
Agreement and Reference Trust Agreement collectively referred to as the
"Indenture"), between you, as Depositor, and The Bank of New York, as Trustee,
of units of fractional undivided interest in said Trust (the "Units") comprising
the Units of Morgan Stanley Dean Witter Select Equity Trust The Competitive Edge
Best Ideas Portfolio Series 2000-3. In rendering our opinion expressed below, we
have relied in part upon the opinions and representations of your officers and
upon opinions of counsel to Dean Witter Reynolds Inc.
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Based upon the foregoing, we advise you that, in our opinion, when
the Indenture has been duly executed and delivered on behalf of the Depositor
and the Trustee and when the Receipt for Units evidencing the Units has been
duly executed and delivered by the Trustee to the Depositor in accordance with
the Indenture, the Units will be legally issued, fully paid and nonassessable by
the Trust, and will constitute valid and binding obligations of the Trust and
the Depositor in accordance with their terms, except that enforceability of
certain provisions thereof may be limited by applicable bankruptcy, insolvency,
reorganization, moratorium or other similar laws affecting creditors generally
and by general equitable principles.
We hereby consent to the filing of this opinion as an exhibit to the
Registration Statement (File No. 333-37846) relating to the Units referred to
above and to the use of our name and to the reference to our firm in said
Registration Statement and the related Prospectus. Our consent to such reference
does not constitute a consent under Section 7 of the Securities Act, as in
consenting to such reference we have not certified any part of the Registration
Statement and do not otherwise come within the categories of persons whose
consent is required under said Section 7 or under the rules and regulations of
the Commission thereunder.
Very truly yours,
CAHILL GORDON & REINDEL
