Power of attorney

[razzer10]

What is the name of your state? CA
Hello,

This is an International situation. I do a little overseas trading of home electronics and what not. A partner of mine has brought me into a fairly large computer deal that he needs my help on. He has little time so he has asked me to become power of attorney on his behalf in order that I may sign contracts to potential customers in other countries. He lives and operates his business out of Cyprus where POA would be given and paperwork of POA would be signed. The signing of business contracts that I would assume on his behalf are to happen in Dubai where the customer resides. It is a 39million dollar deal.
If I sign my name in his company's behalf as POA, do I have any legal or financial liablilities in this deal in the event something negative happens or somebody gets ripped off etc?
I certainly appreciate any advice you can give me on this matter!

Kevin

 

[Dandy Don]

Do not sign to be power of attorney for anyone until you get a complete understanding of your responsibilities and legal liability under Cyprus law, so perhaps you need to be consulting with a Cyprus business law attorney, whom you can probably find by doing a search engine search. And it should be YOUR attorney, not one recommended by your partner.

DANDY DON IN OKLAHOMA ([email protected])

 

[seniorjudge]

Q: If I sign my name in his company's behalf as POA, do I have any legal or financial liablilities in this deal in the event something negative happens or somebody gets ripped off etc?

A: You had best make CERTAIN before you sign anything that you are not responsible for someone else's bad deeds. You cannot generally make yourself not liable for intentional acts, but you could limit your liability for alleged negligent acts. Also, you should make the POA to be interpreted under your jurisdiction's law and any squabbles about it should be declared to be in your backyard, not Dubai or some other God-forsaken rat hole.

You really NEED a lawyer before you put your neck on the chopping block. (We've all seen the videos....)

 

[razzer10]

Thanks guys for the info.. I will definately get an attorney.

Kevin

 

[seniorjudge]

Thanks guys for the info.. I will definately get an attorney.

Kevin

Remember jurisdiction in the US and get a US attorney in your neck of the woods.

Cypriot lawyers can only advise you on olive contracts.