Conclusion: The authority is limited to acting only in certain cases or only in a certain type of transaction or to carry out a certain legal transaction for the client. The agent`s power of attorney expires at the end of the transaction. If a power agent fraud is not binding on the customer. It cannot be sued by the agent or otherwise held responsible for fraud. If the authority does not authorize the representative to carry out an activity, except with restrictions, any action taken by him beyond this power will not bind the client. A fortiori, an agent cannot bind the entrepreneur by his actions to a greater extent than he is authorized by the power of attorney. A person has no direct control over their recipient, which makes the power of attorney very risky. For example – B, a beneficiary of A has the power of attorney to manage A.B`s banking affairs can take out a loan and buy property in the name of A. Because of all these risks, a certain restriction must be imposed on the recipient in order to protect the interests of the donor. In most cases, a power of attorney can also be revoked or revoked. The donor of the power of attorney authorizes a person to act on his or her behalf, called a lawyer. This case is a prime example of an agency. The person who entrusts a person with the management of an act by proxy may be called the principal, and the appointed person may be called a representative.

They maintain the principal-agent relationship between them. A general power of attorney remains in effect unless it is expressly revoked or determined by the death of one of the parties. A special power of attorney is in effect until the specified action is not completed. The duration of the power of attorney depends on the type of lawyer or there may be a fixed duration of the power of attorney issued by the client, which must be included in the document. If you`ve seen shows like “Suits” or “How to Get Away with Murder” or other similar shows, you must have come across the term “power of attorney.” An ordinary man`s understanding of power of attorney is different from his sense of justice. So, what is a power of attorney? The relationship between the donor and the recipient is that of the client and the representative, which finds its genesis in a contract. You need to think carefully before giving the power of attorney to someone. Indeed, when a person appoints someone as their agent, they essentially share decision-making power with the agent. For example, if the recipient spends the donor`s money to help the recipient and not the donor without permission.

The power of attorney makes the donor responsible for the recipient`s act within the appropriate purpose. Thus, the fraud of an agent committed in the context of the object is assimilated to a fraud committed by his principal. In conclusion, we can say that it is very important for a person to choose his recipient / agent very carefully. The relationship between a donor and a beneficiary of a power of attorney is the same as that of an agent and principal, as mentioned in the Indian Contract Act of 1872. Section 182 of the Indian Contracts Act establishes the definition of agent and principal Payment of stamp duty on power of attorney: Jurisdiction The person for whom such an act is performed or represented is called principal. The person executing the power of attorney is designated as the principal or executor of the will, and the person to whom the power of attorney is granted is referred to as the holder or beneficiary of the AMP. The principal and the agent must have a clear mind and the majors. The power of attorney was issued in 1882 and contains 6 articles. In 1982, an amendment was introduced which introduced a new section (section 1A) into the act. Section 1A of the power of attorney defines a power of attorney as an instrument that authorizes any person to act on behalf of the person performing the power of attorney. The answer to that question would always be yes.

When choosing an agent, you should always consider the risks involved. In order to protect his interests, it is important to limit the power of attorney so that the agent cannot abuse his authority. Another way to limit the scope of the power of attorney is to ensure that the document gives third parties the opportunity to exercise some oversight over the recipient. There is no guarantee that an agent will always work in good faith. In order to be safe from fraud/bad intentions of the agent, the scope of the power of attorney must be limited. Failure to restrict the authority of the agent/recipient can result in serious losses. The nature of the powers conferred by the authorisation regulation must always be interpreted strictly, i.e. they must be interpreted as conferring only the powers which they confer expressly or by necessary implicit means. Below are the most important building rules. Under the Registration Act 1908, registration of the power of attorney is not mandatory.

However, if the power of attorney concerns the transfer of immovable property and ownership of that property is transferred to the lawyer, this power of attorney must be registered. A power of attorney is a legal instrument that authorizes any particular person to act for and on behalf of the person performing that act. [i] The power of attorney is established for matters relating to real estate, payment of taxes, banking and legal proceedings. The person who executes such a power of attorney or grants such a power of attorney is called the donor and the person to whom such power of attorney is given is called an agent/agent/fact. A power of attorney is a written document signed by a person that authorizes the person named in the power of attorney to perform certain acts on behalf of the executor that could otherwise only be performed by the executor. The person conferring the power of attorney or authority is called the donor or client and to whom the power of attorney is transferred is called the recipient of the power of attorney or the lawyer. The said lawyer acts as the client`s representative. A power of attorney includes various provisions of the Indian Stamp Act, the Powers of Attorney Act, the Registration Act, the Indian Contracts Act, the Indian Partnership Act and the Indian Evidence Act.

“As people get busier, it becomes more necessary for them to rely on others to get their things done. For this reason, the power of attorney now plays an important role. While the main concern of Indian philosophy is to analyze the basic concepts of ethics, religion, epistemology and metaphysics, its main concern is the social well-being of the individual. In the recent computer age, in which commerce and industry have played a major role, the need to conclude contracts on agreements relating to companies and other transactions is becoming a common and paramount feature of everyday life. As man became busier, it became more necessary for him to rely on others to get his things done. The hectic activities of businessmen and industrialists have made it possible to execute powers of attorney to delegate his functions. A “power of attorney” is a legal instrument in which one person gives another person the power to act on their behalf on their legal behalf and to make binding legal and financial decisions on your behalf. Definition of a power of attorney In the Blacks dictionary, it is described as the instrument by which a person is authorized to act as an agent of the concession. It is important to mention here that a person does not need to be a lawyer to hold a power of attorney as an agent for someone else. In Stroud`s legal dictionary, “power of attorney is broadly defined as an authority where one is placed in one place or place of another to act on one`s behalf.” A power of attorney is a power of attorney document by which the client appoints a representative who performs and performs certain acts or documents on his or her behalf. Miscellaneous can be found in various decrees, as defined in the Bombay Stamp Act as “any instrument that empowers a person to act for and on behalf of the person who executes it and includes an instrument by which a person who is not a lawyer has the right to appear on behalf of a party in proceedings before a court or body”. Although there is a specific law regarding power of attorney, but it is very precise and short, the basic principles of this document are subject to the agency`s law as provided for by the Indian Contracts Act.

A power of attorney can be of two types – 1) General 2) Specific – The criterion for determining in which category a particular document belongs is what is the purpose for which authority is given, and if it is limited to a particular issue, it is specific, otherwise it is general. Structure of a power of attorney – There are two main rules for the interpretation of a power of attorney .1) The enacted part of the act is controlled by the recitals in case of ambiguity 2) If the power of attorney is granted to perform certain acts, followed by general words, the general words are limited to what is necessary for the performance of the respective acts The power of attorney can take effect immediately after signing or only in case of disability. Sum representations of the legal aspects contained in the power of attorney: contracts, agreements 1. To establish contacts, 2. Fulfill a contract, agreement, letter or thing 3. Recognize any contract, agreement to make, sign, execute and issue the power of attorney in the real estate field 1. Sell, exchange, rent, collect rents, grant, negotiate or borrow and pledge. 2. Execute all deeds, obligations, contracts, mortgages, debentures, cheques, drafts, money orders; 3. . . .