Sample Exclusivity Agreement by CrisLapuz

VIEWS: 17,510 PAGES: 2

More Info
									                            GENERAL INFORMATON
                            POWERS OF ATTORNEY
  ilitary members are often called away from home on short notice. With a power of
Mattorney,  you can appoint someone to act on your behalf and to administer your
personal affairs while you are away.

A power of attorney is a document that allows someone else to act as your legal agent
in your absence. It can be used to allow a friend to sell your car, to let your spouse file
your taxes, or to authorize a relative to take your child to the hospital.

HARMFUL IF ABUSED. A power of attorney is one of the strongest legal documents
that an individual can give to another person. A power of attorney can be used to create
new debts, buy or sell property, and deplete your bank account. It is important to
remember that YOU will be held responsible for the acts of your agent. Thus, you must
exercise great care in choosing your agent.

A power of attorney will be accepted as valid for most purposes. However, there are
some actions that cannot be accomplished by using a power of attorney because these
actions are so personal in nature they cannot be delegated to another. For example, a
marriage ceremony or the execution of a will cannot be done by a power of attorney. In
addition, some businesses require a power of attorney to be in a certain form or be
recorded. For example, your bank may accept only a special power of attorney with the
account number specifically listed. Whenever possible, you should check with the
business before obtaining or using a power of attorney to be sure it will be accepted.

  LWAYS give the smallest amount of power necessary to your agent. NEVER make a
Apower   of attorney INDEFINITE OR PERMANENT, unless it is a health care power of
attorney. It is best to set a date for the power of attorney to expire, which is specified in
the power of attorney. This ensures that your power of attorney will not be effective after
the date specified on the document. The Malmstrom Legal Office will draft your POA to
be effective for no more than one year unless the attorney determines that there is a
special need or exception.

Your power of attorney will automatically terminate upon the date specified in the
document or upon the death of either you or your agent. If, however, you want to
CANCEL or terminate a power of attorney before it expires, you can give a
REVOCATION OF POWER OF ATTORNEY to any person who might deal with
your original agent. Just remember, it is usually impossible to effectively cancel a power
of attorney, unless you get back the original you gave to your agent, as well as all of the
copies that may have been made by banks, realtors, merchants, landlords, and other
people who are relying on the power of attorney which you signed.
                    TYPES OF POWERS OF ATTORNEY
  GENERAL POWER OF ATTORNEY authorizes your agent to do ANY act that you
Acould   do yourself relating to your property and personal affairs. Because this document
grants broad and virtually unlimited authority to your agent, it should be given to a
person you trust completely. Your agent may obligate you in a way you never intended
and for which you will be held legally accountable. The general power of attorney
should be granted sparingly. Limit the period that the general power of attorney is in
effect to the absolute minimum necessary to accomplish the task. Keep in mind that a
general power of attorney is automatically revoked if you become incapacitated.

   SPECIAL POWER OF ATTORNEY authorizes your agent to do one or more certain
Aspecified acts,  such as selling your car, shipping household goods, or cashing a
paycheck. A special power of attorney limits the authority granted to your agent and,
thus, is safer than a general power of attorney. Special powers of attorney are drafted to
fit individual needs on a one-time basis or for a limited period of time and are usually
your best choice.

  DURABLE POWER OF ATTORNEY authorizes your agent to perform the duties
Athat you have designated and for the length of time that you have stated. However,
unlike an ordinary general power of attorney, if you become incapacitated while the
power of attorney is in effect, then the power of attorney will remain in effect. If you
have further questions about this, you must speak to an attorney for more information.

  SPRINGING DURABLE POWER OF ATTORNEY authorizes your agent to
Aperform  general or special duties ONLY in the event that you become incapacitated.
This type of power of attorney springs into effect in the event you become incapacitated
and upon proof of your incapacity.

If this is the first time you are considering giving a power of attorney to someone, or if
you have any questions on this information, you SHOULD speak with a legal assistance
attorney before having a Power of Attorney drafted. For further assistance, please stop
by the Legal Office between 1300 and 1500 Monday through Thursday or call 731-2878
to make an appointment.


To top