The document discusses the concept of procuration and power of attorney. Procuration refers to the act of giving power to another person to act on one's behalf, as if they could do it themselves. A power of attorney is a written document that appoints an agent to act on behalf of the principal. The document provides details on different types of powers of attorney and how they work.
The document discusses the concept of procuration and power of attorney. Procuration refers to the act of giving power to another person to act on one's behalf, as if they could do it themselves. A power of attorney is a written document that appoints an agent to act on behalf of the principal. The document provides details on different types of powers of attorney and how they work.
The document discusses the concept of procuration and power of attorney. Procuration refers to the act of giving power to another person to act on one's behalf, as if they could do it themselves. A power of attorney is a written document that appoints an agent to act on behalf of the principal. The document provides details on different types of powers of attorney and how they work.
The document discusses the concept of procuration and power of attorney. Procuration refers to the act of giving power to another person to act on one's behalf, as if they could do it themselves. A power of attorney is a written document that appoints an agent to act on behalf of the principal. The document provides details on different types of powers of attorney and how they work.
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procuration
Also found in: Dictionary/thesaurus, Wikipedia.
See also: acquisition, agency, assignment, delegation, deputation, recovery Burton's Legal Thesaurus, 4E. Copyright 2007 by William C. Burton. Used with permission of The McGraw-Hill Companies, Inc. PROCURATION, civil law. The act by which one person gives power to another to act in his place, as he could do himself. A letter of attorney. 2. Procurations are either express or implied; an express procuration is one made by the express consent of the parties; the implied or tacit takes place when an individual sees another managing his affairs, and does not interfere to prevent it. Dig. 17, 1, 6, 2; Id. 50, 17, 60; Code 7, 32, 2. 3. Procurations are also divided into those which contain absolute power, or a general authority, and those which give only a limited power. Dig. 3, 3, 58; Id. 17, 1, 60, 4 4. The procurations are ended in three ways first, by the revocation of the authority; secondly, by the death of one of the parties; thirdly, by the renunciation of the mandatory, when it is made in proper time and place, and it can be done without injury to the person who gave it. Inst. 3, 27 Dig. 17, 1; Code 4, 35; and see Authority; Letter of Attorney; Mandate. Power of attorney Also found in: Dictionary/thesaurus, Medical, Financial, Acronyms, Encyclopedia, Wikipedia.
Power of Attorney A written document in which one person (the principal) appoints another person to act as an agent on his or her behalf, thus conferring authority on the agent to perform certain acts or functions on behalf of the principal. Powers of attorney are routinely granted to allow the agent to take care of a variety of transactions for the principal, such as executing a stock power, handling a tax audit, or maintaining a safe-deposit box. Powers of attorney can be written to be either general (full) or limited to special circumstances. A power of attorney generally is terminated when the principal dies or becomes incompetent, but the principal can revoke the power of attorney at any time. to confer - dati pravo, podijeliti (conferring authority on the agent) stock power - a power of attorney document to transfer ownership of a registered security from the owner to another party power of attorney - a legal instrument authorizing someone to act as the grantor's agent
registered security
Also found in: Financial.
Noun 1. registered security - a security whose owner's name is recorded on the books of the issuer (or issuer's agent) registered bond - a bond whose owner is recorded on the books of the issuer; can be transferred to another owner only when endorsed by the registered owner certificate, security - a formal declaration that documents a fact of relevance to finance and investment; the holder has a right to receive interest or dividends; "he held several valuable securities" A special type of power of attorney that is used frequently is the "durable" power of attorney. A durable power of attorney differs from a traditional power of attorney in that it continues the agency relationship beyond the incapacity of the principal. The two types of durable power of attorney are immediate and "springing." The first type takes effect as soon as the durable power of attorney is executed. The second is intended to "spring" into effect when a specific event occurs, such as the disability of the principal. Most often, durable powers of attorney are created to deal with decisions involving either property management or HEALTH CARE. Durable powers of attorney have become popular because they enable the principal to have her or his affairs handled easily and inexpensively after she or he has become incapacitated. Before the durable power of attorney was created, the only way to handle the affairs of an incapacitated person was to appoint a guardian, a process that frequently involves complex and costly court proceedings, as well as the often humiliating determination that the principal is wholly incapable and in need of protection. With a durable power of attorney, on the other hand, a principal can appoint someone to handle her or his affairs after she or he becomes incompetent, and the document can be crafted to confer either general power or power in certain limited circumstances. Because no judicial proceedings are necessary, the principal saves time and money and avoids the stigma of being declared incompetent. The concept of the durable power of attorney was created in 1969 when the National Conference of Commissioners on Uniform State Laws promulgated the Uniform Probate Code (U.P.C. 5501). Ten years later, the provisions of the code dealing with the durable power of attorney were modified and published as the Uniform Durable Power of Attorney Act (UDPA). All fifty states recognize some version of the durable power of attorney, having adopted either the UDPA or the Uniform Probate Code, or some variation of them. Versions of the durable power of attorney vary from state to state. Certain powers cannot be delegated, including the powers to make, amend, or revoke a will, change insurance beneficiaries, contract a marriage, and vote. Further readings
Insel, Michael S. 1995. "Durable Power Can Alleviate Effects of Client's Incapacity." Estate Planning 22 (February). Rains, Ramona C. 1996. "Planning Tools Available to the Elderly Client." American Journal of Trial Advocacy 19 (spring).
Cross-references
Living Will. West's Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group, Inc. All rights reserved.
power of attorney n. a written document signed by a person giving another person the power to act in conducting the signer's business, including signing papers, checks, title documents, contracts, handling bank accounts and other activities in the name of the person granting the power. The person receiving the power of attorney (which means agent) is "attorney in fact" for the person giving the power, and usually signs documents as "Melinda Hubbard, attorney in fact for Guilda Giver." There are two types of powers of attorney: a) general power of attorney which covers all activities, and b) special power of attorney which grants powers limited to specific matters, such as selling a particular piece of real estate, handling some bank accounts, or executing a limited partnership agreement. A power of attorney may expire on a date stated in the document or upon written cancellation. Usually the signer acknowledges before a notary public that he/she executed the power, so that it is recordable if necessary, as in a real estate transaction.
Mandate A judicial command, order, or precept, written or oral, from a court; a direction that a court has the authority to give and an individual is bound to obey. A mandate might be issued upon the decision of an appeal, which directs that a particular action be taken, or upon a disposition made of a case by an inferior tribunal. The term mandate is also used in reference to an act by which one individual empowers another individual to conduct transactions for an individual in that person's name. In this sense, it is used synonymously with Power of Attorney. West's Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group, Inc. All rights reserved.
mandate n. 1) any mandatory order or requirement under statute, regulation, or by a public agency. 2) order of an appeals court to a lower court (usually the original trial court in the case) to comply with an appeals court's ruling, such as holding a new trial, dismissing the case, or releasing a prisoner whose conviction has been over-turned. 3) same as the writ of mandamus, which orders a public official or public body to comply with the law. (See: mandamus, writ of mandate)
Renunciation (odricanje) The Abandonment of a right; repudiation; rejection.
The renunciation of a right, power, or privilege involves a total divestment thereof; the right, power, or privilege cannot be transferred to anyone else. For example, when an individual becomes a citizen of a new country, that individual must ordinarily renounce his or her citizenship in the old country. West's Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group, Inc. All rights reserved.
renunciation n. 1) giving up a right, such as a right of inheritance, a gift under a will, or abandoning the right to collect a debt on a note. 2) in criminal law, abandoning participation in a crime before it takes place, or an attempt to stop other participants from going ahead with the crime. A defendant may use renunciation as evidence of his/her innocence. Once the crime is underway, any claimed renunciation is factually too late.
