Practice question
A draft SPA states only that the agent may manage all the principal's affairs without limitation. Explain why counsel should specify authority to sell land, lease real property for more than one year, or compromise litigation instead of relying only on that language.
Legal references
- https://lawphil.net/statutes/repacts/ra1949/ra_386_1949.html — Civil Code, Articles 1874, 1877–1881.
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