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 ?
Tony Marchi explained: "The Scottish Courts system takes 14 weeks to get a Power of Attorney registered - that is quite a long time, so it gives you an indication of how busy they are.
We strongly recommend putting a protective Power of Attorney in place as an integral part of planning for the future, thereby avoiding any unnecessary delays, stress and expense for you and your family in the future.
In the event that you become incapacitated without having executed a durable power of attorney, your family may have to petition the court to establish your incapacity and appoint a conservator to assist in the management of your property which can be both costly and time-consuming.
According to Martin Lewis, the Office of Public Guardian owes around 2 million people [pounds sterling]54, as it is not allowed to make a profit when appointing a power of attorney, but did not drop its prices after finding cheaper ways of doing it.
if power of attorney is not submitted accordingly Document cost : INR 590 EMD value : INR 9000 Opening date : 27 Apr 2018
He said that non according the permission for giving power of attorney to his son is a sheer breach of fundamental rights.
Financial Power of Attorney: Sometimes this is also referred to as being a General Power of Attorney.
(a) the power of attorney his wife executed in favor of his mother created a principal-agent relationship only between them;
Laws vary by state, and each state has specific statutory power of attorney forms.