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What requisites must the powers of attorney granted by mercantile corporations contain?

In order to be deemed valid and legally enforceable, a power of attorney granted by a mercantile corporation, must contain a transcript of the following clauses:

1.    Corporate Purpose.

2.    Term.

3.    Administration and Powers and Authority of the Administrator or Board.

4.    Where applicable, the minutes relative to the election of members of the latter, and in which the appointment of the attorney-in-fact and the board person or persons to whom the powers and authority was delegated to in order to grant mandates has been announced.

 

Use the following precept as a basis:

MERCANTILE CORPORATIONS, REQUISITES OF THE POWERS OF ATTORNEY GRANTED BY SAME.

FIRST COLLEGIATE COURT OF THE TWENTY-FIRST CIRCUIT. Amparo in revision 119/96. Promotora de Acapulco, S.A. de C.V. May 2, 1996. Unanimous vote. Speaker: Joaquín Dzib Núñez. Secretary: José Luis Vázquez Camacho.

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