“For a power to be irrevocable because it is related to an interest, interest must be the object of power and not revenue from the exercise of power.” 3 Am. 2d Agency 60. In one case, the court found, for example, that the death of the client terminated the power to sell on commission of a real estate agent, on the grounds that the Authority is not a power linked to an interest in the real estate over which the power was to be exploited. See Crowe v. Trickey, 204 U.S. 228, 240 (1907). (For other cases of this type.M.T. Brunner, Note, What makes power coupled with interest under the Agency`s termination rule, 28 A.L.R.2d 1243 S243 ( 1953 – 2003 Supp.) So here`s what I recommend: If you design a power of attorney and it`s not enough to say it`s related to an interest, ask yourself first if the power should last beyond the death or incompetence of the client. If not, forget, coupled with an interest, simply say that power is irrevocable, it will serve your purpose. You might ask, as I did, why the cartoonists do not just say that power will survive the death of the sponsor. The answer is this: if a power is not linked to an interest, it will legally cease with the death of the client, even if the power contains a specific provision to the contrary. 3 Am. 2d Agency 52.
Wilson is required to act in Young`s exclusive interest in matters relating to Young`s affairs. If power is to survive beyond the death or incompetence of the client, your next inquiry should be whether the agent is interested in the object of power. (This may require some encoding on their part.) If the answer is that the agent is not coupled with an interest, you will probably do nothing good, although I will let you explore the intricacies of agency law. Express Agency: Express Agency is where the Agency`s relationship is established by an agreement in which the agent and the main state intend to establish an agency relationship that the agent represents the client.