power of attorney
power of attorney
power of attorney
pow′er of attor′ney
n.
power of attorney
| Noun | 1. | power of attorney - a legal instrument authorizing someone to act as the grantor's agent |
| 单词 | power of attorney | |||
| 释义 | power of attorneypower of attorneypower of attorneypow′er of attor′neyn. power of attorney
power of attorneypower of attorneyPower of Attorneywritten authorization given by one person (principal) to another person (agent, representative) to represent the first person before third parties. A power of attorney is a unilateral contract which fixes the content and limits of the agent’s authority. The agent’s actions based on the power of attorney create rights and duties directly for the principal. Three types of power of attorney are distinguished on the basis of the scope of the authority: special—for the performance of one concrete action (for example, to receive wages); limited—to perform some one type of action (for example, power of attorney to an enterprise’s legal counsel for actions in the court of arbitration); general—for general administration of the principal’s property. According to Soviet law the forms and procedures for carrying out power of attorney, its duration, and the manner of termination are regulated by the civil codes of the Union republics. For example, article 67 of the Civil Code of the RSFSR sets a maximum term of duration of three years for power of attorney; if the duration is not indicated in the power of attorney itself, power of attorney remains in effect for one year from the day on which it was given. Power of attorney which does not indicate the date on which it was given is invalid. For certain types of power of attorney (for example, power of attorney to enter into transactions which require notarial forms) the law envisions compulsory notarial certification. Power of attorney in the name of a state organization is issued over the signature of its manager, together with the seal of this organization. The person to whom power of attorney is given must personally carry out those actions for which he has been given authority; transfer of the power of attorney is permitted only if this right is stipulated in the power of attorney or if the transfer is necessary to protect the interests of the principal. The effect of the power of attorney terminates as a result of expiration of its term, revocation of the power of attorney by the principal, renunciation by the agent, termination of the legal person in whose name the power of attorney has been given, death of the principal or agent, and a declaration that either of them does not have the capacity to perform legal acts, that is he is limited in his capacity to perform legal acts, or that he is a missing person. N. I. TATISHCHEVA power of attorneySee power of attorney power of attorneypower of attorneyThe formal or legal document which allows one person to manage the affairs—or specific aspects of the affairs—of another. Power of attorney begins when a person has a physical illness or accident, and that person wants someone else to enter into management of his or her affairs. A standard power of attorney should not be used if the individual has been diagnosed with, or is likely to develop, mental illness or degenerative disease which can lead to mental incapacity, as an ordinary power of attorney automatically ends with loss of mental capacity.power of attorney,POApower of attorneyPower of AttorneyA written document in which one person (the principal) appoints another person to act as an agent on his or her behalf, thus conferring authority on the agent to perform certain acts or functions on behalf of the principal. 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. A special type of power of attorney that is used frequently is the "durable" power of attorney. A durable power of attorney differs from a traditional power of attorney in that it continues the agency relationship beyond the incapacity of the principal. The two types of durable power of attorney are immediate and "springing." The first type takes effect as soon as the durable power of attorney is executed. The second is intended to "spring" into effect when a specific event occurs, such as the disability of the principal. Most often, durable powers of attorney are created to deal with decisions involving either property management or health care. Durable powers of attorney have become popular because they enable the principal to have her or his affairs handled easily and inexpensively after she or he has become incapacitated. Before the durable power of attorney was created, the only way to handle the affairs of an incapacitated person was to appoint a guardian, a process that frequently involves complex and costly court proceedings, as well as the often humiliating determination that the principal is wholly incapable and in need of protection. With a durable power of attorney, on the other hand, a principal can appoint someone to handle her or his affairs after she or he becomes incompetent, and the document can be crafted to confer either general power or power in certain limited circumstances. Because no judicial proceedings are necessary, the principal saves time and money and avoids the stigma of being declared incompetent. The concept of the durable power of attorney was created in 1969 when the National Conference of Commissioners on Uniform State Laws promulgated the Uniform Probate Code (U.P.C. § 5–501). Ten years later, the provisions of the code dealing with the durable power of attorney were modified and published as the Uniform Durable Power of Attorney Act (UDPA). All fifty states recognize some version of the durable power of attorney, having adopted either the UDPA or the Uniform Probate Code, or some variation of them. Versions of the durable power of attorney vary from state to state. Certain powers cannot be delegated, including the powers to make, amend, or revoke a will, change insurance beneficiaries, contract a marriage, and vote. Further readingsInsel, Michael S. 1995. "Durable Power Can Alleviate Effects of Client's Incapacity." Estate Planning 22 (February). Rains, Ramona C. 1996. "Planning Tools Available to the Elderly Client." American Journal of Trial Advocacy 19 (spring). Cross-referencesLiving Will. power of attorneyn. a written document signed by a person giving another person the power to act in conducting the signer's business, including signing papers, checks, title documents, contracts, handling bank accounts and other activities in the name of the person granting the power. The person receiving the power of attorney (which means agent) is "attorney in fact" for the person giving the power, and usually signs documents as "Melinda Hubbard, attorney in fact for Guilda Giver." There are two types of powers of attorney: a) general power of attorney which covers all activities, and b) special power of attorney which grants powers limited to specific matters, such as selling a particular piece of real estate, handling some bank accounts, or executing a limited partnership agreement. A power of attorney may expire on a date stated in the document or upon written cancellation. Usually the signer acknowledges before a notary public that he/she executed the power, so that it is recordable if necessary, as in a real estate transaction. power of attorneyan authority given by one person to another to act in his absence.POWER OF ATTORNEY. Vide Letter of attorney, and 1 Mood. Or. Cas. 57, 58. power of attorneyPower of attorneyPower of Attorneypower of attorneyPower of attorney.A power of attorney is a written document that gives someone the legal authority to act for you as your agent or on your behalf. To be legal, it must be signed and notarized. You may choose to give someone a limited, or ordinary, power of attorney. That authority is revoked if you are no longer able to make your own decisions. In contrast, if you give an attorney, family member, or friend a durable power of attorney, he or she will be able to continue to make decisions for you if you're unable to make them. Not all states allow a durable power of attorney, however. A springing power of attorney takes effect only at the point that you are unable to act for yourself. It's a good idea have an attorney draft or review a power of attorney to be sure the document you sign will give the person you're designating the necessary authority to act for you but not more authority than you wish to assign. You always have the right to revoke the document as long as you are able to act on your own behalf. power of attorneyA document executed by one person (the principal) authorizing another to act as his or her agent and on his or her behalf for any legal purposes or for specifically defined tasks. The agent is called an attorney in fact. See POA See PA power of attorney
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