Mr Ajayi is a business mogul; he
has properties all over the federation that he has even forgotten most of it
because he has little or no time to manage them, he has also been given an oil
block by the federal government, he has come to you as a friend to advise on
what to do so that the properties can be well managed.
Here we shall be talking about
Power of Attorney, What is Power of
Attorney?
This is the right one has over a
thing that can be transferred to another, therefore it can be described as a
document which authorizes another person to act in his stead, a document of
delegation (this is only applicable to things the donor of the right can
lawfully do) By delegating such right all actions taken by the donee becomes
binding on the donor of such powers, this document may but not necessarily
under seal.
The fact that such powers have
been granted does not prevent the donor of the power from exercising the powers
donated .It is only the person executing these powers that binds himself.
Note that the donor of such right
must be recognized in law – capable of suing and been sued, infants, bankrupt
person, mentally incapable person cannot exercise such power.
Instances where Power of Attorney is applicable
The landlord can delegate power
to another to carry out some acts i.e
To let house and eject tenants
when need arise
To collect rent
To sell and buy properties
The list is enormous
No comments:
Post a Comment