Taylor gives a power of attorney to his twin brother Corey,permitting Corey to make all decisions on his behalf while he is abroad.As per the terms of the power of attorney,Corey is allowed make decisions to purchase or sell stocks on Taylor's behalf,sell Taylor's real estate if he deems it to be in Taylor's best interest,pursue or defend lawsuits on Taylor's behalf,and make all other relevant decisions for Taylor.Which of the following is a kind of power of attorney that would confer such powers to Corey?

Question

Quizplus · Accepted Answer

A general power of attorney grants broad powers to the agent or attorney-in-fact and allows them to make a wide range of decisions and handle various affairs on behalf of the principal. In this case, Corey is authorized to make decisions regarding stocks, real estate, lawsuits, and other relevant matters, which falls under the scope of a general power of attorney. A limited power of attorney, on the other hand, only allows the agent to perform specific tasks or handle certain affairs, while a special power of attorney grants authority for a particular purpose or situation. An implied power of attorney is not a formal legal document but rather a presumed authority based on the relationship between the parties involved.

Taylor Gives a Power of Attorney to His Twin Brother