Simple English definitions for legal terms
Read a random definition: HUD
Term: PROCURACY
Definition: A procuracy is a document that gives someone else the power to act on your behalf. It's like a letter of permission that allows someone to make decisions or take actions for you. This person is called an attorney-in-fact.
Definition: Procuracy (prok-y-si) is a legal document that gives power to an attorney-in-fact or agent to act on behalf of someone else. It is also known as a letter of agency.
Example: John gives his friend Tom a procuracy to sell his car while he is out of town. Tom can now legally act as John's agent and sell the car on his behalf.
Explanation: In this example, John is the principal and Tom is the agent. The procuracy gives Tom the legal authority to act on John's behalf and sell the car. Without the procuracy, Tom would not have the legal power to sell the car for John.