Power of attorney
From Supply Chain Management Encyclopedia
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| - | A "'''Power of Attorney'''" is a written document often used when someone wants another physical or juridical person to handle his or her (its) financial or property matters. A Power of Attorney is a legal form but is NOT a court form. Powers of attorney are routinely granted to allow the agent to take care of a variety of transactions for the principal, such as executing a stock power, handling a tax audit, or maintaining a safe-deposit box. Powers of attorney can be written to be either general (full) or limited to special circumstances. A power of attorney generally is terminated when the principal dies or becomes incompetent, but the principal can revoke the power of attorney at any time<ref> | + | A "'''Power of Attorney'''" is a written document often used when someone wants another physical or juridical person to handle his or her (its) financial or property matters. A Power of Attorney is a legal form but is NOT a court form. Powers of attorney are routinely granted to allow the agent to take care of a variety of transactions for the principal, such as executing a stock power, handling a tax audit, or maintaining a safe-deposit box. Powers of attorney can be written to be either general (full) or limited to special circumstances. A power of attorney generally is terminated when the principal dies or becomes incompetent, but the principal can revoke the power of attorney at any time<ref> Power of Attorney - http://www.mncourts.gov/selfhelp/?page=406 - accessed 05/22/2012 </ref>. |
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Revision as of 18:24, 10 July 2012
A "Power of Attorney" is a written document often used when someone wants another physical or juridical person to handle his or her (its) financial or property matters. A Power of Attorney is a legal form but is NOT a court form. Powers of attorney are routinely granted to allow the agent to take care of a variety of transactions for the principal, such as executing a stock power, handling a tax audit, or maintaining a safe-deposit box. Powers of attorney can be written to be either general (full) or limited to special circumstances. A power of attorney generally is terminated when the principal dies or becomes incompetent, but the principal can revoke the power of attorney at any time[1].
References
- ↑ Power of Attorney - http://www.mncourts.gov/selfhelp/?page=406 - accessed 05/22/2012
