The Act clarifies the law relating to the validity of granting a conditional power of attorney. Such grants are valid if they are made in writing and if they provide for one or more persons, as designated by the principle, to determine by written declaration that the event or contingency which is to give rise to the agency relationship has occurred. The Act further provides that third parties may act in reliance on the designee's written declaration without liability to the principle, regardless of whether the specified event has actually occurred.
Georgia State University Law Review
"COMMERCE AND TRADE Creation and Nature of Agency Relationship: Provide for Grants of Conditional Power of Attorney,"
Georgia State University Law Review:
1, Article 35.
Available at: http://readingroom.law.gsu.edu/gsulr/vol10/iss1/35