RE:RE:RE:RE:Power of Attorney in Canada POA Read my posted content again.
Can you state unequivocally that is the case for the Cypress corporation?
Good luck to All!
Purpledriller wrote: dalesio_98 wrote: From recollection, the Peter Sr Cypress corporation was no longer in good standing due to filings, etc. He could not bind the moral entity/technology as the legal status had lapsed. The POA was issued after entity status lapsed, IMO, the POA is invalid.
Good luck to All!
Purpledriller wrote:
Purpledriller wrote: Note to all: This is not legal advice:
General POA can become null and void if the principal donar loses mental capacity. Meanwhile the POA is giving authority on donor's behalf.
But Enduring Power of Attorney remains effective even when the donar becomes mentally incapacitated.
The fiduciary duty of POA is elevated onces teh donar becomes incapable.
Regardless, Court order is needed to revoke a POA to ensure any potential abuse.
Not legal advice: In my humble opinion, it is very possible Peter signed the POA incorrectly with his dad's signature instead of his own w notations of POA on behalf of donor. If he didn't have POA there would be possible potential fraud if his dad had no knowledge of or not granted permission in any manner but having an effective POA gives Peter legal right to sign and bind the donar(dad) - a court order would be required to make POA null and void.
The max financial exposure to PYR is $500,000 if AMF is successful which I highly doubt.
PYR is really hitting it's stride as of late and things look very bright.
You sir are obviously not a lawyer. POA would not become null and void due to a late filiing fees of a corporation. If the corporation cease to exist in legal form or extinguished from corp records - obviously POA would not be valid as with at the time of death of donor.
Only the donor of sound mind can retract a POA otherwise via court application.