Exhibit (i)
[DECHERT PRICE & RHOADS LETTERHEAD]
August 11, 2000
Scudder Cash Investment Trust
Two International Place
Boston, MA 02110
Re: Post-Effective Amendment No. 40 to the Registration Statement on Form
N-1A (SEC File No. 2-55166)
Ladies and Gentlemen:
Scudder Cash Investment Trust (the "Trust") is a trust created under a written
Declaration of Trust dated December 12, 1975. The Declaration of Trust, as
amended from time to time, is referred to as the "Declaration of Trust." The
beneficial interest under the Declaration of Trust is represented by
transferable shares, $.01 par value per share, ("Shares"). The Trustees have the
powers set forth in the Declaration of Trust, subject to the terms, provisions
and conditions therein provided.
We are of the opinion that all legal requirements have been complied with in the
creation of the Trust and that said Declaration of Trust is legal and valid.
Under Article V, Section 5.4 of the Declaration of Trust, the Trustees are
empowered, in their discretion, from time to time, to issue Shares for such
amount and type of consideration, at such time or times and on such terms as the
Trustees may deem best. Under Article V, Section 5.1, it is provided that the
number of Shares authorized to be issued under the Declaration of Trust is
unlimited. Under Article V, Section 5.11, the Trustees may authorize the
division of Shares into two or more series and may also authorize the division
of Shares of the Trust into two or more classes. As of the date hereof, the
Trustees have not created any series of the Trust, but have, by written
instruments, from time to time established various classes of the Trust. The
Shares are currently divided into two classes.
By votes adopted on November 9, 1998 and November 2, 1999, the Trustees of the
Trust authorized the President, any Vice President, the Secretary and the
Treasurer, from time to time, to determine the appropriate number of Shares to
be registered, to register with the Securities and Exchange Commission, and to
issue and sell to the public, such Shares.
We understand that you are about to file with the Securities and Exchange
Commission, on Form N-1A, Post Effective Amendment No. 40 to the Trust's
Registration Statement (the "Registration Statement") under the Securities Act
of 1933, as amended (the "Securities Act"), in connection with the continuous
offering of the Shares. We understand that our opinion is required to be filed
as an exhibit to the Registration Statement.
We are of the opinion that all necessary Trust action precedent to the issue of
the Shares has been duly taken, and that all such Shares may be legally and
validly issued for cash, and
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Scudder Cash Investment Trust
August 11, 2000
Page 2
when sold will be fully paid and non-assessable by the Trust upon receipt by the
Trust or its agent of consideration for such Shares in accordance with the terms
in the Registration Statement, subject to compliance with the Securities Act,
the Investment Company Act of 1940, as amended, and applicable state laws
regulating the sale of securities.
We consent to your filing this opinion with the Securities and Exchange
Commission as an Exhibit to Post-Effective Amendment No. 40 to the Registration
Statement.
Very truly yours,
/s/DECHERT PRICE & RHOADS
