Under which of the following does a principal give authority to an agent only for the specific areas or purposes listed in the agency agreement?

A) A general power of attorney
B) A specific power of attorney
C) A localized power of attorney
D) A durable power of attorney
E) An equitable power or attorney

Specific Power of Attorney

A legal document that grants an agent the authority to act on behalf of the principal in specific matters or transactions.

Agency Agreement

A contract creating a fiduciary relationship whereby the first party consents that the actions of a second party bind them in relations with a third party.

Principal

The main party to a transaction or contract who has authorized an agent to act on their behalf.