A durable power of attorney is a written instrument under which an individual appoints another person as attorney in fact or agent. By executing the durable power of attorney, the principal authorizes the agent to engage in the certain specified business or financial transactions on behalf of the principal with third parties. Durable power of attorney is a contract, which creates an agency–principal relationship.
Under the laws of Louisiana, in a durable power of attorney the authority of the agent to act on behalf of the principal survives the disability of the principal in the absence of a contrary agreement. Further, a durable power of attorney holder must continue to act on things, which was commenced at time of principal’s death, if delay would cause injury. The reasons for termination of power of attorney include death of principal or power of attorney holder. In addition, principal may terminate a power of attorney at any time.