A power of attorney, also called a mandate, is a contract by which one person, the principal, gives authority to another person, called the agent, to represent them in the performance of a legal act with a third party. The power of attorney can be either specific for a particular matter or general for all matters of the principal.
This agent is required to fulfill the mandate they have accepted and must act with care and diligence. They must also act with honesty and loyalty and avoid placing themselves in a conflict of interest situation.
Are you going on vacation and don't have time to conclude an important transaction? Are you lucid but unable to travel and need help with your financial transactions? You can therefore entrust someone you trust with the responsibility of performing these acts on your behalf by signing a power of attorney for this purpose.
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