404.721. Liability as between principal and third person. - Missouri Statutes

Liability as between principal and third person.

404.721. 1. As between the principal and third persons, theauthority granted in a power of attorney shall terminate on thedate of termination, if any, set out in the power of attorney oron the date when the third person acquires actual knowledge ofthe death of the principal or that the authority granted in thepower of attorney has been suspended, modified or terminated.

2. As between the principal and third persons, the acts andtransactions of an attorney in fact are binding on the principaland the principal's successors in interest in any situation inwhich a third person is entitled to rely under section 404.719.

3. This section does not prohibit the principal, actingindividually, and a third person from entering into a writtenagreement that sets forth their duties and liabilities as betweenthemselves and their successors, and which expands or limits theapplication of sections 404.700 to 404.735, except that noagreement shall limit or restrict the right of the principal toact with respect to the third person through an attorney in factappointed in a durable power of attorney.

(L. 1989 H.B. 145 § 10)