- power of attorney
- power to act on behalf of another person for specified purposes. Glossary of Business Terms————An agreement establishing an agent-principal relationship. The "power of attorney" grants the agent authority to act on the principal's behalf under certain designated circumstances. In the futures industry, a power of attorney must be in writing and is valid until revoked or terminated. The CENTER ONLINE Futures Glossary————A written authorization allowing a person to perform certain acts on behalf of another, such as moving of assets between accounts or trading for a person's benefit. Bloomberg Financial Dictionary————( POA) Euroclear Clearing and Settlement glossaryWritten document that authorises a particular person to perform certain acts on behalf of the one signing the document. Euroclear Clearing and Settlement glossarySee proxy. Euroclear Clearing and Settlement glossary
* * *1. [uncountable] legal permission to act for another person, for example because they are too ill to do something themselves:
• Laws governing power of attorney can vary significantly from state to state.2. [countable] a document giving someone this permission:
• A power of attorney is never a substitute for a will.
* * *power of attorney UK US noun LAW► [U] the legal right to make financial or business decisions for someone else, especially because they are old or too ill to deal with things themselves: »
He has power of attorney over his father's affairs.assign/give/grant sb power of attorney »
She persuaded him to change his will to grant her power of attorney.► [C] (plural powers of attorney) a legal document that gives someone the right to make financial or business decisions for someone else: »
A durable power of attorney enables a person to handle your finances if you become incapacitated.
Financial and business terms. 2012.