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.
A New Hampshire General Power of Attorney is a legal document granting an individual the authority to act on behalf of another person (referred to as the principal or granter) in various financial and legal matters. This broad power allows the agent (also known as the attorney-in-fact) to make decisions and take actions related to property, finances, business affairs, investments, and other relevant areas, as specified in the document. The agent's duties are fiduciary in nature, meaning they must act in the principal's best interest and within the boundaries set by law. In New Hampshire, there are different types of General Power of Attorney that can be utilized based on specific requirements or circumstances: 1. Durable Power of Attorney: The most common type in New Hampshire, this document remains in effect even if the principal becomes mentally or physically incapacitated. It offers the advantage of continuity and effective management of affairs by allowing the agent to act on the principal's behalf in situations where they are unable to do so themselves. 2. Non-durable Power of Attorney: This type grants the agent the authority to act on the principal's behalf, but it ceases to be valid if the principal becomes incapacitated or unable to make legal decisions. It is suitable for short-term arrangements or specific tasks where the principal does not desire an enduring power of attorney. 3. Springing Power of Attorney: Unlike the durable power of attorney that takes effect immediately, the springing power of attorney becomes effective only upon the occurrence of a specific event or condition, predetermined by the principal. Typically, this event is the incapacitation of the principal, making it a useful tool for those who wish to retain control until they are unable to handle their affairs. 4. Limited Power of Attorney: This type restricts the agent's powers to a specific activity or transaction. It allows the principal to grant someone the authority to perform a particular act or make decisions for them within the designated limits. For instance, a limited power of attorney could be issued to enable the agent to manage the sale or purchase of real estate solely. When creating a New Hampshire General Power of Attorney, it is crucial to consult with a knowledgeable attorney to ensure compliance with state laws, establish the desired scope of authority, and safeguard the principal's interests.A New Hampshire General Power of Attorney is a legal document granting an individual the authority to act on behalf of another person (referred to as the principal or granter) in various financial and legal matters. This broad power allows the agent (also known as the attorney-in-fact) to make decisions and take actions related to property, finances, business affairs, investments, and other relevant areas, as specified in the document. The agent's duties are fiduciary in nature, meaning they must act in the principal's best interest and within the boundaries set by law. In New Hampshire, there are different types of General Power of Attorney that can be utilized based on specific requirements or circumstances: 1. Durable Power of Attorney: The most common type in New Hampshire, this document remains in effect even if the principal becomes mentally or physically incapacitated. It offers the advantage of continuity and effective management of affairs by allowing the agent to act on the principal's behalf in situations where they are unable to do so themselves. 2. Non-durable Power of Attorney: This type grants the agent the authority to act on the principal's behalf, but it ceases to be valid if the principal becomes incapacitated or unable to make legal decisions. It is suitable for short-term arrangements or specific tasks where the principal does not desire an enduring power of attorney. 3. Springing Power of Attorney: Unlike the durable power of attorney that takes effect immediately, the springing power of attorney becomes effective only upon the occurrence of a specific event or condition, predetermined by the principal. Typically, this event is the incapacitation of the principal, making it a useful tool for those who wish to retain control until they are unable to handle their affairs. 4. Limited Power of Attorney: This type restricts the agent's powers to a specific activity or transaction. It allows the principal to grant someone the authority to perform a particular act or make decisions for them within the designated limits. For instance, a limited power of attorney could be issued to enable the agent to manage the sale or purchase of real estate solely. When creating a New Hampshire General Power of Attorney, it is crucial to consult with a knowledgeable attorney to ensure compliance with state laws, establish the desired scope of authority, and safeguard the principal's interests.
