A POWER OF ATTORNEY UNDER THE LAWS OF THE NETHERLANDS ANTILLES AND ARUBA
Unauthorized agents are personally liable
A power of attorney is a right that the principal grants to a person to perform legal acts (including contracts) in his name. The person who receives the power of attorney obtains the right to represent his principal. The granting of a power of attorney is a unilateral legal act. There are no formal requirements for a power of attorney; however, if the legal act to be performed by the attorney must comply with certain formalities the same formalities apply to the power of attorney.
In the event a legal act is performed in the name of another person and the third party has assumed and could reasonably assume under the given circumstances, on the basis of a statement or the behaviour of that other person, that the power of attorney was adequate, that other person is bound to the legal act even if the power of attorney was not adequate. In the event that a person grants a power of attorney the principal remains entitled to perform the legal acts himself that are covered by the power of attorney. Except for a limited number of circumstances the attorney does not have the right of substitution, unless otherwise provided for.
In the event a power of attorney is granted to two or more persons, each person is entitled to act independently, unless otherwise provided. If an unauthorized agent has performed a legal act in the name of another person, the other person can ratify the legal act with the same result as if the agent were authorized. A person who acts as a proxy holder must vouch for the existence and the extent of his power of attorney, unless the third party knows or has reason to know that an adequate power of attorney is lacking or the attorney has fully informed the third party of the contents of the power of attorney. In such cases the unauthorized agent himself is liable for any damages. As a general rule, a power of attorney terminates, inter alia, in each of the following cases:
(a) the death, guardianship or bankruptcy of the principal;
(b) the death, guardianship or bankruptcy of the attorney, unless provided otherwise;
(c) revocation by the principal; and
(d) termination by the attorney.
To the extent that a power of attorney has as its purpose to perform a legal act in the interest of the attorney, it can be provided that the power of attorney is irrevocable or that it does not terminate upon the death or guardianship of the principal.
Karel Frielink
Attorney (lawyer) / Partner
