Secretarial practice

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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

285 SECRETARIAL PRACTICE Death of According to the common law, the death of the grantor of Principal or a power was a revocation of the authority, but it has been Attorney. pointed out how this principle has been modified by statute. The representatives of a dead principal, it is true, could ratify, at their discretion, a contract made by the attorney in the name of the principal after his death, but in the absence of ratification they were not bound by it [Foster v. Bates (1843), 12 M. & W. 226]. On the death of the attorney, the latter’s representatives have no authority to exercise the power, and the death of the attorney revokes the appointment of a substitute made by him under a power authorising delegation; for it is assumed in law that the attorney had been chosen by the principal because of his possessing some qualities of mind which fitted him peculiarly sither for the conduct or for the supervision of the principal's affairs. Joint For the same reason, where two attorneys are appointed Attorneys. to act jointly and one of them dies, the survivor cannot act alone. Joint Where there are two or more joint principals, the death Principals. of one of them will generally revoke the power as to the other or others [Gee v. Lane (1812), 15 East 592]. Although the Courts nowadays might not insist upon observing the old strictness as regards this rule, the third party would be well advised not to place faith in speculation, but to assume that the old rule was still valid. As has already been shown, if the principal was insane at the time when he executed the power, the instrument is abso- lutely void. If, however, he was sane at the time of execution, but subsequently becomes insane, the rule of common law is that the power is determined as between the principal and the attorney, but that the revocation is not operative as against a third party, who deals with the attorney in good faith and without knowledge of the insanity [Drew v. Nunn (1879), 4 Q.B.D. 661]. The sections of the Law of Property Act, 1925, set out in this Chapter, show how this principle of protecting third parties is recognized by statute. Insanity of Insanity of the attorney revokes his authority, since the Attorney. he loses the capacity to exercise the will of his principal; and third parties who deal with him are in a better position than the principal himself to ascertain the fact of his insanity. Bankruptcy In the case of bankruptcy of the principal, as in the case of the of his insanity, the position of third parties is protected by Principal. (he Taw of Property Act, 1925. According to the common law bankruptcy of the principal revokes the power, except in respect of a purely formal act necessary to complete a

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