Secretarial practice

Bibliographic data

Monograph

Identifikator:: 1828236004

URN:: urn:nbn:de:zbw-retromon-249926

Document type:: Monograph

Title:: Secretarial practice

Edition:: fourth edition

Place of publication:: Cambridge

Publisher:: W. Heffer & Sons Ltd

Year of publication:: 1930

Scope:: viii, 987 Seiten

Digitisation:: 2022

Collection:: Economics Books

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Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Chapter XXI. Powers of attorney

Collection:: Economics Books

POWERS OF ATTORNEY 28 Still greater security is afforded under the powers covered by ss. 126-127 (1) of the Law of Property Act, 1925, which provide as follows :— A. If a power of attorney is given for valuable con- sideration and is in the instrument creating the power expressed to be irrevocable Is 125], or If a power of attorney, whether given for valuable consideration or not, is in the instrument creating the power expressed to be irrevocable for a fixed period therein specified not exceedinr; one year from the date of the iustrument " then in favour of a purchaser! (i) The power shall not be revoked, at any time (or in case B during the fixed time) either by anything done by the donor of the power without the con- currence of the donee of the power, or by the death, disability, or bankruptcy of the donor of the power; and— Any act done at any time (or in case B within the fixed time) by the donee of the power, in pursuance of the power, shall be as valid as if anything done by the donor of the power without the concurrence of the donee of the power, or the death, disability, or bankruptcy of the donor of the power had not been done or happened; and— Neither the donee of the power, nor the purchaser, shall at any time be prejudicially affected by notice of anything done by the donor of the power with- out the concurrence of the donee of the power, or of the death, disability, or bankruptcy of the donor of the power at any time (or in case B within the fixed time). If a power has been made irrevocable under s. 127, then (unless the context otherwise requires) it does not lapse on the expiration of the fixed period, but continues to operate in the same way as if it had not been made irrevocable for any fixed period. > J Powers given for valuable considera- tion or made irrevocable for not ex- ceeding one vear. ! ‘Purchaser’ means a purchaser in good faith for valuable con- sideration, and includes a lessee, mortgagee or other person who for valuable consideration acquires an interest in property, and where the context so requires includes an intending purchaser; ‘valuable con- sideration’ includes marriage, but does not include a nominal con- sideration in money; and ‘property’ includes any thing in action and any interest in real or personal property (s. 205).

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