Agency is a relationship based on an agreement authorizing one person, the agent, to act for another, the principal. For example an agent may negotiate and make contracts with third persons on behalf of the principal. Actions of an agent can obligate the principal to third persons. Actions of an agent may also give a principal rights against third persons.
An agency can be created for the purpose of doing almost any act the principal could do. However, there are some acts that must be done in person and cannot be done by an agent. Examples would be: testifying in court for another individual, making a will, and voting.
A general agent is authorized by the principal to transact all the affairs of a particular kind of business. For example, a person appointed as manager of a store is a general agent.
A special agent is authorized by the principal to handle a particular business transaction or perform a specific act. For example, a specific power of attorney appointing an agent (attorney-in-fact) to sell a particular piece of real estate or a certain car would be the appointment of a special agent.
A universal agent is authorized by the principal to do any act that can be delegated to a representative. An example would be giving a person a general power of attorney. This form is such a general power of attorney.
The Alabama General Power of Attorney is a legal document that authorizes an individual, known as the principal, to grant another person, referred to as the agent or attorney-in-fact, the power to act on their behalf. This document holds significant importance as it allows individuals to delegate various responsibilities and decision-making powers to a trusted representative. In Alabama, there are several types of General Power of Attorney, each serving specific purposes and addressing different needs. One such type is the Durable Power of Attorney, which remains in effect even if the principal becomes mentally incapacitated or unable to make decisions. This ensures a seamless transition of decision-making authority without the need for a conservatorship or guardianship. Another type is the Limited Power of Attorney, which grants the agent authority over specific actions or transactions for a defined period. This type of Power of Attorney is often used for specific financial or legal matters, such as real estate transactions, banking transactions, or signing legal documents in the principal's absence. Moreover, the Springing Power of Attorney is yet another type available in Alabama. This Power of Attorney becomes effective only when certain conditions or events specified in the document occur. For example, the document may state that the power will spring into effect if the principal becomes disabled or incapacitated. The Alabama General Power of Attorney typically includes various provisions, such as the scope of authority granted to the agent, the duration of the Power of Attorney, the specific powers delegated, and any limitations or restrictions imposed on the agent's actions. It is important to note that this document can be customized to suit the principal's unique needs and requirements. Keywords: Alabama General Power of Attorney, legal document, principal, agent, attorney-in-fact, responsibilities, decision-making powers, Durable Power of Attorney, mentally incapacitated, Limited Power of Attorney, financial matters, legal matters, real estate transactions, banking transactions, Springing Power of Attorney, conditions, provisions, authority, customized.
