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.
Franklin Ohio General Power of Attorney is a legal document that grants a designated person, known as an "attorney-in-fact" or "agent," the authority to make decisions and act on behalf of another individual, known as the "principal." This broad authority encompasses financial, legal, business, and personal matters, allowing the agent to act in the best interests of the principal. The Franklin Ohio General Power of Attorney is governed by the Ohio Revised Code, specifically Section 1337.21 et seq. This code outlines the requirements, limits, and responsibilities associated with creating and executing a General Power of Attorney in Franklin, Ohio. There are different types of General Power of Attorney that residents of Franklin, Ohio can consider, including: 1. Durable Power of Attorney: This type of General Power of Attorney remains in effect even if the principal becomes mentally incapacitated. It provides crucial protection for the principal's interests and allows the agent to continue making decisions on their behalf. 2. Limited Power of Attorney: A Limited Power of Attorney grants the agent the authority to perform specific tasks or make decisions within a defined scope. This type of power of attorney is commonly used for temporary or specific circumstances, such as selling a property or managing a business transaction. 3. Springing Power of Attorney: In certain cases, individuals may choose to create a Springing Power of Attorney, which only becomes effective upon the occurrence of a specified event, typically the incapacity of the principal. Once the triggering event takes place, the agent can then exercise their authority. 4. Non-Durable Power of Attorney: Unlike a Durable Power of Attorney, a Non-Durable Power of Attorney becomes invalid if the principal becomes mentally incapacitated. This type of power of attorney is typically used for short-term arrangements, such as when the principal may require assistance during a period of physical absence or illness. When creating a Franklin Ohio General Power of Attorney, it is essential to consult with a qualified attorney familiar with Ohio laws to ensure compliance and customization to individual circumstances. This legal professional can help draft and execute the appropriate type of power of attorney, considering the principal's wishes, objectives, and specific needs. In summary, a Franklin Ohio General Power of Attorney is a crucial legal tool that allows a designated agent to make decisions and act on behalf of a principal in various matters. Different types of power of attorney, such as Durable, Limited, Springing, and Non-Durable, offer flexibility and customization to suit individual needs and situations. Seeking advice from a knowledgeable attorney is pivotal to ensure compliance and the protection of both the principal and agent's interests.Franklin Ohio General Power of Attorney is a legal document that grants a designated person, known as an "attorney-in-fact" or "agent," the authority to make decisions and act on behalf of another individual, known as the "principal." This broad authority encompasses financial, legal, business, and personal matters, allowing the agent to act in the best interests of the principal. The Franklin Ohio General Power of Attorney is governed by the Ohio Revised Code, specifically Section 1337.21 et seq. This code outlines the requirements, limits, and responsibilities associated with creating and executing a General Power of Attorney in Franklin, Ohio. There are different types of General Power of Attorney that residents of Franklin, Ohio can consider, including: 1. Durable Power of Attorney: This type of General Power of Attorney remains in effect even if the principal becomes mentally incapacitated. It provides crucial protection for the principal's interests and allows the agent to continue making decisions on their behalf. 2. Limited Power of Attorney: A Limited Power of Attorney grants the agent the authority to perform specific tasks or make decisions within a defined scope. This type of power of attorney is commonly used for temporary or specific circumstances, such as selling a property or managing a business transaction. 3. Springing Power of Attorney: In certain cases, individuals may choose to create a Springing Power of Attorney, which only becomes effective upon the occurrence of a specified event, typically the incapacity of the principal. Once the triggering event takes place, the agent can then exercise their authority. 4. Non-Durable Power of Attorney: Unlike a Durable Power of Attorney, a Non-Durable Power of Attorney becomes invalid if the principal becomes mentally incapacitated. This type of power of attorney is typically used for short-term arrangements, such as when the principal may require assistance during a period of physical absence or illness. When creating a Franklin Ohio General Power of Attorney, it is essential to consult with a qualified attorney familiar with Ohio laws to ensure compliance and customization to individual circumstances. This legal professional can help draft and execute the appropriate type of power of attorney, considering the principal's wishes, objectives, and specific needs. In summary, a Franklin Ohio General Power of Attorney is a crucial legal tool that allows a designated agent to make decisions and act on behalf of a principal in various matters. Different types of power of attorney, such as Durable, Limited, Springing, and Non-Durable, offer flexibility and customization to suit individual needs and situations. Seeking advice from a knowledgeable attorney is pivotal to ensure compliance and the protection of both the principal and agent's interests.
