Legal Question in Business Law in California
power of attorney/contracts
A two year debt consolidation contract
ended on Juy 2007. It included a power
of attorney to be used if needed. Does
the power of attorney end when the
contract did?
2 Answers from Attorneys
Re: power of attorney/contracts
The Probate Code contains California's statutes concering powers of attorney. Section 4127 reads in its entirety:
"Unless a power of attorney states a time of termination, the authority of the attorney-in-fact is exercisable notwithstanding any lapse of time since execution of the power of attorney."
However, section 4152 says:
"(a) Subject to subdivision (b), the authority of an attorney-in-fact under a power of attorney is terminated by any of the following events:
(1) In accordance with the terms of the power of attorney;
(2) Extinction of the subject or fulfillment of the purpose of the power of attorney;
(3) Revocation of the attorney-in-fact's authority, as provided in Section 4154;
.....and so on, (4) through (9)......
(b) An attorney-in-fact or third person who does not have notice of an event that termnates the power of attorney or the authority of an attorney-in-fact is protected from liability as provided in Chapter 5 (commencing with Section 4300)."
So, what does it all mean? I don't know without reading your document and maybe doing further research, but my guess is that the attorney-in-fact here will be aware of the event that terminated his authority and will not try to use it. However, no one ever said law is simple; that's why lawyers have all those books!
Re: power of attorney/contracts
In addition to what Mr. Whipple says, you can always send a written and notarized revocation of power of attorney.
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