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Power of Attorney is a legally binding document which gives another person, the authority to act on behalf of another in matters of a business transaction, legal affairs[1] or even a private matter as described in the POA. The person is authorized does not require any specific qualifications or designation. Each POA may differ in the manner of the level of control and authority granted and also the purpose.
It should be noted that the Power of Attorney does not take away the right of the principal to act on his own behalf. In case of disagreement with the agent, the decision of principal hold good and there is always remains an option of revocation of the Power of Attorney.
These can broadly be categorized as:
A Power of Attorney may be revoked or canceled at any stage with a legal document showing such an intention. A notice may be given to the agent regarding the same. If the Power of Attorney has been registered the Revocation Deed shall also be required to be registered. It is always in good practice to supply a public notice to the parties dealing who were dealing with the agent while the power of attorney was in force.
The power of attorney if executed with some consideration mentioned, then it must be settled in whole before the revocation/ cancellation.
This document shall mention
The agent after being served with a notice of cancellation of the power of attorney will have no authority to act on behalf of the Principal and the principal shall not be bound by the actions of the Agent. In spite of the notice, if the Agent continues to act on behalf of Principal, then can be subjected to appropriate legal notice.
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