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Simple English definitions for legal terms

power of revocation

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A quick definition of power of revocation:

Power of revocation refers to the ability to cancel or change a legal relationship that has been created. It is a type of authority that allows a person or organization to alter their rights, duties, liabilities, or other legal relations. This power can be reserved in an instrument such as a trust, and allows the person who holds it to revoke the legal relationship they have created.

A more thorough explanation:

The power of revocation refers to the legal right or authorization to alter, by an act of will, the rights, duties, liabilities, or other legal relations either of that person or of another. It is a power that a person reserves in an instrument (such as a trust) to revoke the legal relationship that the person has created.

For example, if a person creates a trust and reserves the power of revocation, they have the ability to change or cancel the trust at any time. This power is important because it allows the person to make changes to the trust if their circumstances or wishes change.

Another example of the power of revocation is a power of attorney. If a person grants someone else the power to act on their behalf, they may also reserve the power to revoke that authority if they no longer want that person to act on their behalf.

In summary, the power of revocation is the legal right to change or cancel a legal relationship that a person has created. It is an important power that allows people to make changes to their legal arrangements if their circumstances or wishes change.

power of alienation | power of sale

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cumsock
13:00
careful! i graduated from reddit university
13:00
@texaslawhopefully: another day another missed wave??
lilypadfrog
13:01
what if I started using redditisms
lilypadfrog
13:01
thank you kind stranger for the gold
Trismegistus
13:01
do all my hopes and dreams and sanity rest on chicago now
texaslawhopefully
13:01
@sadpadresfan: prolly. My only hope is my last name is towards the end of the alphabet
lilypadfrog
13:01
i hope u guys would put me down like a dog that bit a baby
Trismegistus
13:02
@texaslawhopefully: i saw 3/4 down alphabet then 30- mins later 1/2 down alphabet
texaslawhopefully
13:02
so they're still calling?
Trismegistus
13:03
that i dont know
KeenHeartbreakingRattlesnake
13:03
the Penn e wave is about to cook me
atwatodbit
13:03
@sadpadresfan: did you get your Cornell scholly with your A at the same time? I think they gave me nothing...
lilypadfrog
13:04
tex also got cornell scholly ask him
texaslawhopefully
13:04
there's a form you fill out
texaslawhopefully
13:04
and they'll get back to you within a few days
13:04
@atwatodbit: they emailed me a day after submitting the form
atwatodbit
13:05
ah ok, i've seen that, just need to get parental info then. just making sure
13:05
Feeling fortunate and its my top choice as of now haha
lilypadfrog
13:06
what if you fill this out and you haven’t been admitted? just a next level move? they probably have to let you in then
PerpetualCheerfulBeaver
13:06
I applied to all my places in late september and am still waiting to hear back. ive missed all three types of waves (WL,R,A) am i screwed??
texaslawhopefully
13:07
Your guess is as good as mine. I'm in the same boat for most schools
Trismegistus
13:07
begging chicago for an A
atwatodbit
13:08
the vast majority of the t14 has not hit 50% of their As, many have not even hit 25%. zero reason for panic
PerpetualCheerfulBeaver
13:08
Thank you texas!
choosingpeace
13:08
missing CLS and Penn waves im so screwed
choosingpeace
13:08
i applied early too i hate everything im crashing out im crashing OUT
PerpetualCheerfulBeaver
13:08
I literally have no experience in this type of stuff, but if i get waitlisted, should i send an email about continued interest?
lilypadfrog
13:09
im so nonchalant
lilypadfrog
13:09
i will probably hear something back eventually
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