Q. What is Power of Attorney?
A. Power of Attorney is a legal instrument/document by which another person is authorized by the maker to act on his behalf.
Q. What is the difference between “General Power of Attorney” and “Special Power of Attorney”?
A. In General Power of Attorney power is given to the attorney to do more than one act, while in Special Power of Attorney power is given to do only one act.
Q. When would a General Power of Attorney gets cancelled?
A. General Power of Attorney gets cancelled on the death of the Principal or Attorney or when principal cancels it.
Q. Is photocopy of power of attorney is as authentic as original?
A. No. Photocopy produced in the absence of an original will not be taken into consideration.
Q. Can I appoint more than one person as Attorney through a single deed in Power of Attorney?
Q. Two attorneys were appointed to act jointly, one dies, can the other act alone?
A. Where two attorneys were appointed to act jointly and one of them dies, the survivor cannot act alone.
Q. Does a Power of Attorney require attestation by witnesses?
A. Yes, Power of Attorney to be attested by witnesses.
Q. Can an attorney be fired?
A. Yes, the Principal may revoke or fire Attorney any time.
Q. Can an Attorney is compensated for his/her work?
A. Yes, if so agreed by the Principal and Attorney.
Q. Can an attorney be held liable for his/her actions?
A. Yes, but only if he/she acts with willful misconduct or gross negligence.
Q. My uncle is mentally incapacitated; can he create a Power of Attorney?
A. A mentally incapacitated person cannot create a power of attorney he must know and understand what he is doing.
Q. How do I select an agent for a Power of Attorney?
A. You should choose someone whom you trust fully. He/she can be your family member or a friend. Certainly, you should never give a power of attorney to someone you do not trust fully.
Q. Can a company (private or public limited) grant Power of Attorney?
A. Yes, as company is a legal person, and if authorized by Memorandum and Articles of Association can grant power of attorney.
Q. What are the precautions one must take when giving a general power of attorney?
A. Whenever power of attorney is given by you, he should be trustworthy person. Power of attorney is almost like signing a blank cheque and should be given only where it is absolutely necessary and there is no alternative.
Q. I gave a Power of Attorney to my relative, can I still make any decision for myself?
A. The attorney is only your representative if you intend to do anything yourself you are fully competent for the same, even there is an attorney appointed by you.
Q. Is attorney answerable to Principal?
A. Yes, attorney/agent is answerable to principal.
Q. What does Irrevocable Power of Attorney mean?
A. If the Power of Attorney is executed for consideration then it cannot be unilaterally revoked.
Q. Can all Power of Attorneys be revoked?
A. No, only those which are without consideration.