power of attorney


Also found in: Dictionary, Thesaurus, Medical, Legal, Financial, Acronyms, Wikipedia.
Related to power of attorney: Enduring Power of Attorney

power of attorney

1. legal authority to act for another person in certain specified matters
2. the document conferring such authority

Power of Attorney

 

written 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 attorney

An instrument authorizing another to act as one’s agent. Also See attorney-in-fact.
References in periodicals archive ?
A power of attorney is a legal document in which you (called grantor) authorize another person (called agent or attorney in fact) to take legal, tax or other actions for you.
The letters and power of attorney forms from the supposedly separate and independent third-party collection agents encountered in this investigation were identical.
Drawing up a power of attorney before a person becomes incapable of making decisions helps to avoid this process, which can be lengthy and complex.
If the power of attorney is not designated as durable, the Attorney-in-fact can only exercise a power the individual is also capable of exercising.
The Company issued a Power of Attorney to a lawyer to represent it before the Abu Dhabi Courts and defend the case.
In addition, in a power of attorney you could say that your attorney could continue to make gifts to friends and family after you are incapacitated.
A power of attorney will most certainly be required when preparing and filing tax returns in another's name or when asking questions of a bank regarding another's accounts.
The health care durable power of attorney stays in force until it is revoked by the maker (evidence that one is capable of making their own decisions) or when a court steps in and determines that the directives are invalid or the agent is not acting properly.
The Financial Ombudsman Service (FOS), which resolves disputes between financial firms and consumers, has just published new guidance to help consumers and bank staff when registering power of attorney.
A lasting power of attorney is a legal tool that allows an individual to state who they would like to make decisions on their behalf, should they become unable to do so in the future.
THIS week, Alzheimer's Society has launched a guidance booklet on Lasting Power of Attorney to help people living with dementia.
THIS week, Alzheimer's Society has launched a new guidance booklet on Lasting Power of Attorney to help people living with dementia in Wales.