Law 2101 Lecture Notes - Lecture 30: Testator, Life Insurance, Geostationary Operational Environmental Satellite
29 Jan 2016
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2 kinds of poa: continuing power of attorney, capacity. Attorney can make financial decisions on grantors behalf. Banking, paying bills, buys and sells assets. Effect a cpoa authorizes the attorney to do anything that the grantor can do with respect to the property. Limitations grantor can put restrictions on cpoa. Grantor must have sufficient mental capacity to make a cpoa. The test is set out in sda, s. 8(1) A person is capable of giving a cpoa if he or she: Knows what kind of property he or she has and the value dependants. Is aware of obligations owed to his or her. Knows that the attorney will be able to so on the persons behalf, anything in respect of the property that the person could do themselves. Knows that the attorney must account for his or her dealings with the persons property. Knows that he or she may, if capable, revoke: termination of cpoa happens upon: the cpoa.
