Podcast
Questions and Answers
Who is responsible for liability when a donee acts within the scope of the power of attorney?
Who is responsible for liability when a donee acts within the scope of the power of attorney?
- Both the donee and donor
- The donor (correct)
- The donee
- Neither the donee nor donor
What is a requirement for a power of attorney concerning family property to be valid?
What is a requirement for a power of attorney concerning family property to be valid?
- The head of the family must execute it as a donor (correct)
- It must be filed with the court
- It must be signed by multiple family members
- It can be executed by any family member
Which of the following individuals lacks the capacity to be a donor?
Which of the following individuals lacks the capacity to be a donor?
- A company in liquidation (correct)
- A non juristic person (correct)
- An insane person (correct)
- A married minor
What differentiates a general power of attorney from a specific one?
What differentiates a general power of attorney from a specific one?
In which situation would a power of attorney NOT be required?
In which situation would a power of attorney NOT be required?
What is the primary function of a power of attorney?
What is the primary function of a power of attorney?
What characterizes a revocable power of attorney?
What characterizes a revocable power of attorney?
Which of the following statements regarding powers of attorney is NOT true?
Which of the following statements regarding powers of attorney is NOT true?
Which of the following entities lacks the capacity to be a donee?
Which of the following entities lacks the capacity to be a donee?
What is essential for the creation of a power of attorney?
What is essential for the creation of a power of attorney?
Which aspect indicates that a power of attorney can be considered irrevocable?
Which aspect indicates that a power of attorney can be considered irrevocable?
When can a power of attorney be considered irrevocable?
When can a power of attorney be considered irrevocable?
In what scenario can a power of attorney be coupled with interest?
In what scenario can a power of attorney be coupled with interest?
What does not constitute a feature of a power of attorney?
What does not constitute a feature of a power of attorney?
What occurs if a power of attorney is executed by both the donor and donee?
What occurs if a power of attorney is executed by both the donor and donee?
How does the power of attorney empower the donee in legal matters?
How does the power of attorney empower the donee in legal matters?
Which of the following statements captures the essence of a power of attorney best?
Which of the following statements captures the essence of a power of attorney best?
Study Notes
Power of Attorney Overview
- A Power of Attorney (POA) allows one individual (agent) to act on behalf of another (principal).
- The donee can execute documents in their own name with the principal's authority, making these actions legally binding.
Features of a Power of Attorney
- Serves as a delegation of authority, not as a conveyance instrument.
- Exceptionally, it can be considered valid for property transactions if original intent is clear.
- Can be established for valuable consideration and may involve an interest.
- Generally, POAs are irrevocable but can be revocable based on their purpose.
- Typically executed by one party; joint execution by donor and donee is acceptable.
- The principal (donor) must be legally recognized.
- Donee incurs no liability if acting within their designated power; liability rests with the donor.
- For family property, the head of the family must execute the POA.
Creation of a Power of Attorney
- A POA can be created in writing or by deed (under seal), with written documentation being essential.
Capacity Requirements
- Donor must have legal capacity; exceptions include:
- Infants (except married minors)
- Undischarged bankrupts
- Insane individuals
- Unincorporated entities
- Companies in liquidation or winding up
- Enemy aliens
- Donees must also have legal capacity; restrictions include:
- Partnership firms
- Insane individuals
- Infants
- Unincorporated entities
- Undischarged bankrupts
- Non-juristic persons
Types of Power of Attorney
- General vs. Specific:
- General POAs provide broad powers; specific POAs focus on particular actions, like managing rental properties.
- Revocable vs. Irrevocable:
- Revocable POAs can be terminated by the donor anytime before exercise; irrevocable POAs are often tied to interest or time-limited engagements.
Appointment and Functionality
- Donors may appoint multiple attorneys via a single document, and appointing does not restrict the donor from also exercising their powers.
- Situations necessitating a POA include:
- Donor's unavailability to manage affairs.
- Difficulties due to health issues or disabilities.
- Protection of interests in real estate transactions.
Legal Precedents
- Various cases (e.g., Ude v Nwara, Chime v Chime) demonstrate the principles surrounding POA validity and execution rights.
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Description
Test your understanding of Power of Attorney (POA) concepts and legal implications with this quiz. Explore key cases such as National Bank of Nigeria Ltd v Korban Brothers and more. Ideal for law students and legal professionals.
