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.
Harris Texas General Power of Attorney is a legal document that grants authority to an individual, known as the agent or attorney-in-fact, to handle various financial, legal, and business matters on behalf of the principal, who is the person granting the authority. With a Harris Texas General Power of Attorney, the agent has the power to make decisions and take actions as if they were the principal themselves. However, it is important to note that the agent's powers are only effective while the principal is mentally competent and able to make their own decisions. When drafting a Harris Texas General Power of Attorney, it is crucial to include specific details and limitations to ensure the agent's actions align with the principal's desires. Typically, the document covers a wide range of powers following the Texas statutory guidelines, including but not limited to: 1. Financial Management: The agent can manage the principal's bank accounts, investments, assets, debts, and taxes. This includes the ability to buy, sell, and manage real estate properties. 2. Business Operations: The agent can run the principal's business, enter into contracts, hire and manage employees, and make business decisions. 3. Legal Matters: The agent can handle legal affairs, such as settling claims, filing lawsuits or defending the principal in legal proceedings, and signing legal documents. It is important to note that a Harris Texas General Power of Attorney is revocable at any time as long as the principal is mentally competent. This means the principal has the power to terminate the document or change the agent if desired. Types of Harris Texas General Power of Attorney may also include: 1. Durable Power of Attorney: In this type, the agent's authority remains intact even if the principal becomes mentally incapacitated or unable to communicate their decisions. 2. Limited Power of Attorney: This grants the agent specific and limited powers to act on behalf of the principal in only certain designated matters. 3. Springing Power of Attorney: This type is effective only upon the occurrence of a specific event, such as the principal becoming mentally incapacitated or physically unable to handle their affairs. In conclusion, a Harris Texas General Power of Attorney is a powerful legal instrument that allows a trusted agent to handle various financial, legal, and business matters on behalf of the principal. By providing specific details and limitations, the principal can ensure that their interests are protected while granting authority to someone they trust.Harris Texas General Power of Attorney is a legal document that grants authority to an individual, known as the agent or attorney-in-fact, to handle various financial, legal, and business matters on behalf of the principal, who is the person granting the authority. With a Harris Texas General Power of Attorney, the agent has the power to make decisions and take actions as if they were the principal themselves. However, it is important to note that the agent's powers are only effective while the principal is mentally competent and able to make their own decisions. When drafting a Harris Texas General Power of Attorney, it is crucial to include specific details and limitations to ensure the agent's actions align with the principal's desires. Typically, the document covers a wide range of powers following the Texas statutory guidelines, including but not limited to: 1. Financial Management: The agent can manage the principal's bank accounts, investments, assets, debts, and taxes. This includes the ability to buy, sell, and manage real estate properties. 2. Business Operations: The agent can run the principal's business, enter into contracts, hire and manage employees, and make business decisions. 3. Legal Matters: The agent can handle legal affairs, such as settling claims, filing lawsuits or defending the principal in legal proceedings, and signing legal documents. It is important to note that a Harris Texas General Power of Attorney is revocable at any time as long as the principal is mentally competent. This means the principal has the power to terminate the document or change the agent if desired. Types of Harris Texas General Power of Attorney may also include: 1. Durable Power of Attorney: In this type, the agent's authority remains intact even if the principal becomes mentally incapacitated or unable to communicate their decisions. 2. Limited Power of Attorney: This grants the agent specific and limited powers to act on behalf of the principal in only certain designated matters. 3. Springing Power of Attorney: This type is effective only upon the occurrence of a specific event, such as the principal becoming mentally incapacitated or physically unable to handle their affairs. In conclusion, a Harris Texas General Power of Attorney is a powerful legal instrument that allows a trusted agent to handle various financial, legal, and business matters on behalf of the principal. By providing specific details and limitations, the principal can ensure that their interests are protected while granting authority to someone they trust.
