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Education, Misc

December 04, 2018

Equal Dignities Rule

Word of the day

Equal Dignities Rule

A rule of agency law stipulating that when a contract is required by law to be in writing, the authority of an agent to enter into such a contract on behalf of the principal must also be in writing. For example, a power of attorney for real estate contracts must be in writing because state statutes of fraud generally require that all real estate contracts be in writing and that the agent’s authority likewise be in writing. Usually, the power of attorney must also be recorded if the real estate contract (such as a land contract for deed) is expected to be recorded.

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