procuration

Also found in: Dictionary/thesaurus, Wikipedia.

See also: acquisition, agency, assignment, delegation, deputation, recovery
Burton's Legal Thesaurus, 4E. Copyright 2007 by William C. Burton. Used with permission
of The McGraw-Hill Companies, Inc.
PROCURATION, civil law. The act by which one person gives power to another to act in
his place, as he could do himself. A letter of attorney.
2. Procurations are either express or implied; an express procuration is one made by the
express consent of the parties; the implied or tacit takes place when an individual sees
another managing his affairs, and does not interfere to prevent it. Dig. 17, 1, 6, 2; Id. 50, 17,
60; Code 7, 32, 2.
3. Procurations are also divided into those which contain absolute power, or a general
authority, and those which give only a limited power. Dig. 3, 3, 58; Id. 17, 1, 60, 4 4. The
procurations are ended in three ways first, by the revocation of the authority; secondly, by
the death of one of the parties; thirdly, by the renunciation of the mandatory, when it is
made in proper time and place, and it can be done without injury to the person who gave it.
Inst. 3, 27 Dig. 17, 1; Code 4, 35; and see Authority; Letter of Attorney; Mandate.
Power of attorney
Also found in: Dictionary/thesaurus, Medical, Financial, Acronyms, Encyclopedia,
Wikipedia.

Power of Attorney
A written document in which one person (the principal) appoints another person to act as an
agent on his or her behalf, thus conferring authority on the agent to perform certain acts or
functions on behalf of the principal. Powers of attorney are routinely granted to allow the
agent to take care of a variety of transactions for the principal, such as executing a stock
power, handling a tax audit, or maintaining a safe-deposit box. Powers of attorney can be
written to be either general (full) or limited to special circumstances. A power of attorney
generally is terminated when the principal dies or becomes incompetent, but the principal can
revoke the power of attorney at any time.
to confer - dati pravo, podijeliti (conferring authority on the agent)
stock power - a power of attorney document to transfer ownership of a registered security
from the owner to another party
power of attorney - a legal instrument authorizing someone to act as the grantor's agent

registered security

Also found in: Financial.

Noun 1. registered security - a security whose owner's name is recorded on the books of the
issuer (or issuer's agent)
registered bond - a bond whose owner is recorded on the books of the issuer; can be
transferred to another owner only when endorsed by the registered owner
certificate, security - a formal declaration that documents a fact of relevance to
finance and investment; the holder has a right to receive interest or dividends; "he
held several valuable securities"
A special type of power of attorney that is used frequently is the "durable" power of attorney.
A durable power of attorney differs from a traditional power of attorney in that it continues
the agency relationship beyond the incapacity of the principal. The two types of durable
power of attorney are immediate and "springing." The first type takes effect as soon as the
durable power of attorney is executed. The second is intended to "spring" into effect when a
specific event occurs, such as the disability of the principal. Most often, durable powers of
attorney are created to deal with decisions involving either property management or HEALTH
CARE.
Durable powers of attorney have become popular because they enable the principal to have
her or his affairs handled easily and inexpensively after she or he has become incapacitated.
Before the durable power of attorney was created, the only way to handle the affairs of an
incapacitated person was to appoint a guardian, a process that frequently involves complex
and costly court proceedings, as well as the often humiliating determination that the principal
is wholly incapable and in need of protection.
With a durable power of attorney, on the other hand, a principal can appoint someone to
handle her or his affairs after she or he becomes incompetent, and the document can be
crafted to confer either general power or power in certain limited circumstances. Because no
judicial proceedings are necessary, the principal saves time and money and avoids the stigma
of being declared incompetent.
The concept of the durable power of attorney was created in 1969 when the National
Conference of Commissioners on Uniform State Laws promulgated the Uniform Probate
Code (U.P.C. 5501). Ten years later, the provisions of the code dealing with the durable
power of attorney were modified and published as the Uniform Durable Power of Attorney
Act (UDPA). All fifty states recognize some version of the durable power of attorney, having
adopted either the UDPA or the Uniform Probate Code, or some variation of them. Versions
of the durable power of attorney vary from state to state. Certain powers cannot be delegated,
including the powers to make, amend, or revoke a will, change insurance beneficiaries,
contract a marriage, and vote.
Further readings

Insel, Michael S. 1995. "Durable Power Can Alleviate Effects of Client's Incapacity." Estate
Planning 22 (February).
Rains, Ramona C. 1996. "Planning Tools Available to the Elderly Client." American Journal
of Trial Advocacy 19 (spring).

Cross-references

Living Will.
West's Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group,
Inc. All rights reserved.

power of attorney
n. a written document signed by a person giving another person the power to act in
conducting the signer's business, including signing papers, checks, title documents, contracts,
handling bank accounts and other activities in the name of the person granting the power. The
person receiving the power of attorney (which means agent) is "attorney in fact" for the
person giving the power, and usually signs documents as "Melinda Hubbard, attorney in fact
for Guilda Giver." There are two types of powers of attorney: a) general power of attorney
which covers all activities, and b) special power of attorney which grants powers limited to
specific matters, such as selling a particular piece of real estate, handling some bank accounts,
or executing a limited partnership agreement. A power of attorney may expire on a date stated
in the document or upon written cancellation. Usually the signer acknowledges before a
notary public that he/she executed the power, so that it is recordable if necessary, as in a real
estate transaction.

Mandate
A judicial command, order, or precept, written or oral, from a court; a direction that a court
has the authority to give and an individual is bound to obey.
A mandate might be issued upon the decision of an appeal, which directs that a particular
action be taken, or upon a disposition made of a case by an inferior tribunal.
The term mandate is also used in reference to an act by which one individual empowers
another individual to conduct transactions for an individual in that person's name. In this
sense, it is used synonymously with Power of Attorney.
West's Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group,
Inc. All rights reserved.

mandate
n. 1) any mandatory order or requirement under statute, regulation, or by a public agency. 2)
order of an appeals court to a lower court (usually the original trial court in the case) to
comply with an appeals court's ruling, such as holding a new trial, dismissing the case, or
releasing a prisoner whose conviction has been over-turned. 3) same as the writ of mandamus,
which orders a public official or public body to comply with the law. (See: mandamus, writ of
mandate)

Renunciation (odricanje)
The Abandonment of a right; repudiation; rejection.

The renunciation of a right, power, or privilege involves a total divestment thereof; the right,
power, or privilege cannot be transferred to anyone else. For example, when an individual
becomes a citizen of a new country, that individual must ordinarily renounce his or her
citizenship in the old country.
West's Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group,
Inc. All rights reserved.

renunciation
n. 1) giving up a right, such as a right of inheritance, a gift under a will, or abandoning the
right to collect a debt on a note. 2) in criminal law, abandoning participation in a crime before
it takes place, or an attempt to stop other participants from going ahead with the crime. A
defendant may use renunciation as evidence of his/her innocence. Once the crime is
underway, any claimed renunciation is factually too late.