A Power of Attorney Should Be Used with Great Caution

question 143

Multiple Choice

A power of attorney should be used with great caution and only in exceptional circumstances because

• A)failure to comply with the equal dignity rule makes a contract voidable.
• B)it grants extensive authority to an agent.
• C)an attorney must be licensed to practice law in the state of authority.
• D)the power to be exercised defines the duty to be obeyed.

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Definitions:

Diversity Competency

The ability to understand, respect, and value the differences among individuals, contributing to an inclusive workplace.

Competitive Advantage

The attributes that allow an organization to outperform its competitors.

Business Opportunity

A set of conditions that makes it possible to create, buy, or invest in a business venture with the potential for profit.

Bounded Rationality Model

A theory that suggests individuals make decisions based on the limited information available to them and within the confines of their cognitive limitations.