A Durable Power of Attorney Differs from a Power of Attorney

question 83

Multiple Choice

A durable power of attorney differs from a power of attorney in that the durable power of attorney:

• A) is a formal written instrument, whereas the power of attorney may be informal and oral.
• B) becomes effective upon the principal's subsequent incapacity or the agent's authority is not affected by the principal's subsequent incapacity.
• C) is governed by Article 3 of the UCC.
• D) must follow a standardized form set forth in the federal Uniform Durable Power of Attorney Act.

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Definitions:

Condition Subsequent

A condition subsequent is a condition in a contract that, when met, terminates an existing obligation under the contract, as opposed to initiating it.

Breach Of Contract

The failure to perform any term of a contract, written or oral, without a legitimate legal excuse.

Cause Of Action

A cause of action is a set of facts sufficient to justify a right to sue to obtain money, property, or the enforcement of a right against another party.

Anticipatorily Repudiated

A doctrine in contract law where one party, ahead of time, indicates that they will not fulfill their contract obligations, allowing the other party to treat the contract as breached.