Granting power of attorney in a commercial context

By Ahmed Mudathir ( July 23, 2021, 8:31 AM EDT) -- Powers of attorney are the subject of a bit of discussion among corporate and commercial lawyers (at least around our neck of the woods). Often, this discussion centres on the requirement and the value of having a witness to the execution of the power of attorney and the enforceability of the power of attorney granted in the absence of such a witness. However, there are many more considerations at play and an absence of awareness to the issues may result in your client incurring more liability than they have bargained for. This article thus briefly explores the use of powers of attorney in the commercial context (such as in a shareholder’s agreement) in light of Ontario’s current common law and statutory framework....