what are drip edges and why should we worry about them?

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My wife and I are first time home buyers, and we
are running into all sorts of unfamiliar concepts.

We recently saw a house that had a new (1996) roof,
but we were told that it had no drip edges. Should
this concern us? Why or why not?

We are in Duluth Minnesota by the way...I'm sure that
climate must matter a bit in these matters. :)

Thanks!
Ted