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Power of Attorney
What is power of attorney:
It is a legal instrument by which another person is authorized by the maker to perform on his behalf or in his name. Most of the times it is becaue of the reason that the person himself is unable to perform certain acts due to several reasons as: He might be out the state, or He might not be competent himself to handle such affairs... But even if he is competent to perform certain acts by himself, still the drafting of power of attorney in favor of another person does not means that from then onwards he can perform certain tasks but he can and the attorney will then be assisting him and will be performing according to the directions of the maker. Essentials: 1: parties 2: authorization 3: to perform prescribed acts 4: in name of the drafter. Explanation: Parties: The parties here to are referred as the Principal and the Agent. Their relation is to be dealt with by Contract Act 1872, under the Chapter and head of AGENCY... Competency of the parties: it is necessary that both the parties must be: *major *sound minded *having an understanding of their acts and effects... However it is also preferred in case of an AGENT that he must be capable enough to handle certain affairs entrusted to him by way of power of attorney.otherwise for the performing of certain tasks the agent will be bound to engage experts for which expenses will be incurred, which will not be favorable for the principal. Kinds of Power of Attorney: There are several kinds of it but few are: 1: General 2: Special 3: Durable 4: Springing. Explanation: 1: General: where a person s authorized to perform general tasks without specifically specifying the situation in which to be performed as;to da all acts necessary in regard to property etc... 2: Special: where a person is authorizd to do acts in specific situation or circumstances as to complete certain transaction or to act on one's behalf in court's case etc. 3: Durable: where it is specifically mentioned that the power shall subsists even if the principal gets mentally incapacitated so where the principal becomes mentally unsound, still his such power of attorney will remain valid. 4:Springing: it is wider form of durable one.here if it is mentioned as it will remain valid even on the happening of future event,or if principal gets mentally effected... Revocation of power of Attorney: 1: Death of the principal 2: revocation by the principal 3: renunciation by the agent 4: on completion of task or transaction 5: on specified date... Basically the death of principal will in itself operate as revocation even if it is specifically referred as irrevocable, so after death will or law of intestacy will come into force.... Joint Power of Attorney: if more than one persons are appointed as attorneys then it is necessary that tasks to be performed by each be specifically mentioned, if not then all will be supposed and presumed to act jointly and individual act of anyone will not bound the rest nor the principal will be held liable for that individual act....... |
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abdul.rauf (Tuesday, December 15, 2009), cuckoo (Thursday, December 17, 2009), Habib orakzai (Saturday, December 26, 2009), Saad Khan (Tuesday, December 15, 2009), Sajid Sadeem (Monday, December 14, 2009) |
#2
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A bit correction:
where the powers can be delayed until some future date or occurrence is known as a "Springing Power of Attorney." A Springing Power of Attorney is commonly used when a person does not want to grant powers until they become incapacitated. When used in this manner, the powers "spring" into effect once the grantor actually does become incapacitated. A Durable Power of Attorney will continue to be in effect after you become incapacitated. Whereas, the powers granted in a Nondurable Power of Attorney terminate once you become incapacitated.
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The Following 5 Users Say Thank You to Hina 11(MISS Einstein) For This Useful Post: | ||
cuckoo (Thursday, December 17, 2009), Saad Khan (Tuesday, December 15, 2009), Sabah Hunzai (Tuesday, December 15, 2009), saim n babar (Monday, July 05, 2010), Sajid Sadeem (Monday, December 14, 2009) |
#3
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help need in urgent
please someone remove my confusion regarding this question. I couldn't comprehend this question, what does it demand?
Year 2000 Constitutional Law Paper. Explain the anti-concentration of power provisions in the US Constitution. regards
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Self-confidence is the first requisite to great undertakings. |
#4
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i guess its about separation of powers....as US constitution is based upon 4 principles as:
separation of powers, division of powers, checks and balances, and individual's rights and liberties so anti-concentration means provsions dealing with decentralization of powers... correct me if i m wrong... |
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Sabah Hunzai (Wednesday, December 16, 2009) |
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