A Wiki by powersofattorney.com
Online supplier of Powers of Attorney
Do you need a Power of Attorney?
Powers of Attorney may be used by any kind of legal entity.
For example, Powers of Attorney may be used by sole traders, travellers, persons in hospital or working in remote locations, as well as families.
Powers of Attorney may also be used by partnerships, corporations, trusts, associations (i.e. professional, trade or sporting associations) joint ventures, government agencies and any other kind of body corporate, including foreign bodies corporate.
Powers of Attorney are commonly used between:-
Except as expressly authorized in the Power of Attorney, the trusted agent must:-
If for example, a trusted agent claimed to be entitled to payment for their services, or claimed to be entitled to the benefit of a loan from the principal, or were found to be in possession of an asset of the principal, the agent would need to find justification for having received the benefit, in the Power of Attorney, or be liable to the principal for the loss suffered by the principal.
Similarly if an agent was found to have used confidential information obtained in the course of their agency other than for the benefit of the principal, they would be expected to account to the principal for any benefit they derived from using the information and for example, would be liable for any for loss or damage suffered by the principal as a result of their use of the information, unless the Power of Attorney provided otherwise.
Using a Power of Attorney makes good sense for other reasons, for example a Power of Attorney:
Handy resources in this Wiki include:
powersofattorney.com supplies premium quality Powers of Attorney online, including:
The next page examines the concept of a Power of Attorney, including definitions of what constitutes a Power of Attorney and common features of Powers of Attorney.