General

Breaking or Breaching a Contract

Basically, contracts can be broken in at least three ways:

Elements of a Contract

Most contracts are based on common law elements. The elements of most basic contracts are:

Offer
Acceptance
Consideration.

In order to determine whether a contract exists, understanding of these elements are needed.

Offer

We will be discussing contracts in a very general sense. Please keep in mind that with the specific facts of your contract, much of the information provided will help you understand the legal consequences of the contract issue. Since there are specific issues that may change the outcome of your case, you should consult with an attorney to make sure that you are on a solid legal ground.

State Laws Regulating Durable Powers of Attorney

Most states recognize Durable Powers of Attorney. However, like Durable Powers of Attorney for Healthcare, the laws in each state vary. Each state has their own requirements and limitations. Some states recognize that a Durable Power of Attorney will take effect immediately upon execution. This means that you should be extremely careful before you draft this document and have it executed.

Special Durable Power of Attorney

You might wish to open a sample of a Special Durable Power of Attorney in a separate window to follow along with this discussion. You will need Adobe Reader to open this PDF. You may download it here.

Powers of Attorney - Introduction

You can specify that a person or persons has the power to act in your behalf with a Power of Attorney. Unlike the Durable Power of Attorney and Durable Power of Attorney for Healthcare, a General Power of Attorney is deemed, in most states, to be voided at either the death or incapacity of the person making the Power of Attorney, sometimes called the Principal.

Powers of Attorney and Durable Power of Attorney

Generally, a Power of Attorney gives a person the right in some capacity to act on your behalf in your affairs. A person with sound mind and no mental incapacity can give another person the authority to act for them. This power to act can be specific or general in nature. That is, you can give a person the power to sign your name to a loan document if you are out-of-state for example.

Using Durable Power of Attorney

The Durable Power of Attorney allows an agent to manage your affairs in your place. The powers can be specific or general in nature.

State Laws Regulating Durable Powers of Attorney

Most states recognize Durable Powers of Attorney; however, the laws in each state vary. Each state has their own requirements and limitations. Some states recognize that a Durable Power of Attorney will take effect immediately upon execution. You should be extremely careful before you draft this document and have it executed.

Durable Power of Attorney – A Broader Prevention Method

Generally, a Power of Attorney gives a person the right, in some capacity, to act on your behalf in your affairs. You can give someone this authority as long as you have a sound mind and are not mentally incapacitated. This power to act can be specific or general in nature. For example, you can grant a person the power to sign your name to on a loan document if you if you are out-of-state.