Durable Power of Attorney (POA) a document that permits an individual (Known as a principal) to appoint another person (Known as an agent) to make any decisions regarding health care it the principal should become unable to make decisions.
If the attorney-in-fact is designated as a general power of attorney, they are allowed to conduct any actions that the principal would reasonably take. This means an attorney-in-fact would be able to open and close bank accounts, withdraw funds, trade stocks, pay bills, or cash checks—all on behalf of the principal.
Which of the following is true under the UCC regarding liability of a principal if the agent enters into a contract that is a negotiable instrument? The principal cannot be held liable unless the principal's name is on the instrument or the agent's signature indicates that it was made in a representative capacity.
Which of the following is true regarding the form of authority upon which an agency relationship may be created? Agency relationships can be created through expressed agency, implied authority, apparent agency, or ratification.
A type of power of attorney. A power of attorney is a legal document that gives one person (such as a relative, lawyer, or friend) the authority to make legal, medical, or financial decisions for another person. ... A durable power of attorney remains in effect until the person who grants it dies or cancels it.
A durable power of attorney for health care is a legal document that helps people plan for medical emergencies and decline in mental functioning. ... If you have another document such as a living will, your agent will use that document to guide decisions made on your behalf.Oct 26, 2021
Which of the following is true under the UCC regarding liability of a principal if the agent enters into a contract that is a negotiable instrument? The principal cannot be held liable unless the principal's name is on the instrument or the agent's signature indicates that it was made in a representative capacity.
Which of the following is true regarding situations in which an agent enters into a contract without authority? The principal is not bound, but the agent may be personally liable.
Which of the following is true regarding corporations other than S corporations? A corporation may not be sued. The corporation must pay taxes on profits, and shareholders must pay taxes on dividends they receive from the corporation. Shareholders may typically be held liable for debts of the corporation.
Which of the following is true of the duty of agents to the principal? Except for compensation, an agent should not profit from acting on behalf of the principal.
Which of the following is true regarding whether an accepted offer to pay part of a debt is consideration? Partial payment is consideration if an unliquidated debt is involved.
Which of the following is true regarding the tort liability of employers for the actions of their employees and independent contractors? Employers are generally liable in tort for the actions of their employees, while they are generally not liable for the actions of independent contractors.