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TeachMeFinance.com - explain power of attorney power of attorney -- a document that authorizes one person to legally act as the agent for, or in place of, another person in performing various actions under specified conditions. Full power may be granted, or authority may be limited to certain functions. historic definition... Power of attorney -- Written authority to act for another. A general power of attorney confers authority to act in matters generally ; a permanent power of attorney is good until revoked ; a special power of attorney is good only for the specific act which it covers. An irrevocable power of attorney is used in transactions in stocks and bonds . About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.