The Oxford dictionary defines a Power of Attorney as "the authority to act for an additional one man in specified legal or financial matters". In other words, granting someone a power of attorney empowers that man to manage your financial or legal affairs within defined boundaries. The man authorizing the other to act is the "Principal" and the one authorized to act is the "Agent" or "Attorney In Fact" (Aif).
It is crucial to define the extent of the Power of Attorney. The powers might be very restricted, such as granting man the authority to sell your car or a piece of land while you are overseas. Or, the powers might be very broad, such as the power to buy and sell your property, lend and borrow money in your name, and so forth. The requisite must conclude if the Power of Attorney will take succeed immediately or when something prevents him from acting himself.
Financial Power Of Attorney
Some valid procedures should be observed in retention with the principal's interests; the Power of Attorney must be signed in front of reliable witnesses, notarized, and recorded in court. In some cases, the Equal Dignity Rule comes into play; according to this rule of law, if you give someone your Power of Attorney to sign the papers to sell your property, and the law requires that signature on the legal document to be notarized, then your Power of Attorney authorizing that agent to sign the deed must be notarized, too.
Booting up. (formation of M*Power by attorney Frank Lockwood) (Just Doing It) (Cover Story): An article from: Hawaii Business Best
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Booting up. (formation of M*Power by attorney Frank Lockwood) (Just Doing It) (Cover Story): An article from: Hawaii Business Overview
This digital document is an article from Hawaii Business, published by Hawaii Business Publishing Co. on April 1, 1993. The length of the article is 492 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.Citation Details
Title: Booting up. (formation of M*Power by attorney Frank Lockwood) (Just Doing It) (Cover Story)
Author: Mari Taketa
Publication:Hawaii Business (Magazine/Journal)
Date: April 1, 1993
Publisher: Hawaii Business Publishing Co.
Volume: v38 Issue: n10 Page: p73(2)
Article Type: Cover Story
Distributed by Thomson Gale
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