A __________ is a formal appointment of an agent.
A)fiduciary
B)revocation
C)power of attorney
D)rescission

Question

Quizplus · Accepted Answer

A power of attorney is a written authorization that grants someone else the authority to act on behalf of the principal. It is a formal appointment of an agent, and it can be used for a variety of purposes such as managing financial and legal affairs, making medical decisions, or handling real estate transactions. A fiduciary is a person who has a legal duty to act in the best interests of another party, such as a trustee or executor. Revocation and rescission are terms used to describe the cancellation or annulment of a legal contract or agreement.

A __________ Is a Formal Appointment of an Agent