The document outlines topics to be covered in an assignment on power of attorney, including defining power of attorney, distinguishing it from a will, types of power of attorney, registration requirements, language used, stamp duties, capacity of the grantor, duties of the attorney, duration, revocation, and consequences. It also provides a case to draft a power of attorney, delegating rights to operate bank accounts, collect rent, buy and sell property, and file or defend lawsuits on behalf of a financial institution to its Chief Operating Officer.
The document outlines topics to be covered in an assignment on power of attorney, including defining power of attorney, distinguishing it from a will, types of power of attorney, registration requirements, language used, stamp duties, capacity of the grantor, duties of the attorney, duration, revocation, and consequences. It also provides a case to draft a power of attorney, delegating rights to operate bank accounts, collect rent, buy and sell property, and file or defend lawsuits on behalf of a financial institution to its Chief Operating Officer.
The document outlines topics to be covered in an assignment on power of attorney, including defining power of attorney, distinguishing it from a will, types of power of attorney, registration requirements, language used, stamp duties, capacity of the grantor, duties of the attorney, duration, revocation, and consequences. It also provides a case to draft a power of attorney, delegating rights to operate bank accounts, collect rent, buy and sell property, and file or defend lawsuits on behalf of a financial institution to its Chief Operating Officer.
The document outlines topics to be covered in an assignment on power of attorney, including defining power of attorney, distinguishing it from a will, types of power of attorney, registration requirements, language used, stamp duties, capacity of the grantor, duties of the attorney, duration, revocation, and consequences. It also provides a case to draft a power of attorney, delegating rights to operate bank accounts, collect rent, buy and sell property, and file or defend lawsuits on behalf of a financial institution to its Chief Operating Officer.
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Topics to be covered in assignment of Power of Attorney -(50 Marks)
1. Definition of Power of attorney.
2. Difference between Power of Attorney and Will.
3. Different kind of Power of Attorney.
4. Registration of Power of Attorney – Is it necessary?
5. Language used in the Power of attorney document
6.Stamp Duty payable on Power of Attorney
7.Capacity of Grantor ( Granter is a person who creates the Power of Attorney)
8.Duties of Power of Attorney Holder
9.Duration
10.Revocation of Power of Attorney.
11. Consequences of giving a Power of Attorney
Draft Power of Attorney in the given case - (50 Marks)
Financial institution named as Turbo Private Ltd. under the authority of its Board of Director has given power of attorney to its Chief Operating Officer. Institution has delegated following rights -:
1. To operate bank accounts of institution
2. To Collect rent of property
3. To buy and sell property
4. To file or defend a suit, if any
Draft Power of attorney to bring into effect the above delegation of rights.