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.
Washington General Power of Attorney is a legal document that grants an individual, also known as the "principal," the authority to appoint another person, referred to as the "agent" or "attorney-in-fact," to handle financial, property, and other specified legal matters on their behalf. This power of attorney provides broad powers to the agent, allowing them to make decisions and take actions as if they were the principal themselves. The Washington General Power of Attorney enables the principal to designate their agent to undertake various activities, such as managing bank accounts, paying bills, buying or selling real estate, making investment decisions, operating businesses, and handling legal matters. The specific powers granted to the agent can be customized based on the principal's needs and preferences. It is important to note that there are different types of Washington General Power of Attorney, each serving a unique purpose. The most common types include: 1. Durable Power of Attorney: This type of power of attorney remains effective even if the principal becomes incapacitated or mentally incompetent to make decisions for themselves. It ensures continued management of the principal's affairs in such circumstances. 2. Non-Durable Power of Attorney: Unlike the durable power of attorney, the non-durable power of attorney terminates if the principal becomes mentally incapacitated or unable to make decisions. It is generally used for specific short-term purposes, such as during a temporary absence or for a specific transaction. 3. Springing Power of Attorney: A springing power of attorney comes into effect only when a specified event or condition occurs, typically the incapacity of the principal. Until that condition is met, the agent has no authority to act on the principal's behalf. 4. Statutory Power of Attorney: Washington State provides a statutory power of attorney form that individuals can use as a template to create their power of attorney document. This form includes the powers authorized by default under the state law, but it can also be customized or modified as needed. When executing a Washington General Power of Attorney, it is crucial to consult with an attorney to ensure compliance with state laws and to fully understand the implications of granting such powers. This legal document creates a fiduciary relationship between the principal and the agent, emphasizing the importance of trust and responsibility in managing the principal's affairs.
