The financial encyclopedia uses cookies to improve your user experience. Find out more here!




Power of attorney


An instrument in writing empowering the holder to represent the person issuing that instrument in the matters contained therein. A general power of attorney gives the holder fairly exclusive rights to act for another person, e.g. sign deeds on his or her behalf. This often happens where the holder is acting for a person totally incapacitated or abroad. A special power of attorney is of a more limited kind. perhaps for acting on one occasion only.

Reference: The Penguin Business Dictionary, 3rd edt.