The following Commercial guidance note provides comprehensive and up to date legal information covering:
This Practice Note provides practical guidance on the proper execution of simple contracts and deeds by third party individuals or corporations (primarily companies incorporated under the Companies Act 2006 (CA 2006)), acting under a power of attorney. It considers who can grant a power of attorney, who can act as an attorney and execution formalities when executing simple contracts or deeds under a power of attorney.
This Practice Note does not cover the execution of powers of attorney themselves. For details, see Precedent: Power of attorney for commercial transactions.
This Practice Note does not cover the execution of documents by other authorised signatories of organisations. For more details, see Practice Note: Executing documents—deeds and simple contracts.
A power of attorney is a document that must be entered into as a deed under which one party (known as the donor) grants to the other party (known as the attorney) the power to act on behalf of and in the name of the donor.
It is important for practitioners to understand the requirements for the appointment of attorneys and for the execution of documents under a power of attorney. There could be unintended consequences for contracting parties if an attorney is not validly appointed, does not act within the scope of its authority or fails to execute documents correctly.
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