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 | + | |
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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. 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>. | ||
Revision as of 13:33, 11 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. 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
