Question

"Jim was called to active duty in the military. Knowing that he would be out of the country for a year or more, he gave his sister Peg authority to pay bills in his name, access his bank accounts, buy and sell stock in his brokerage accounts, and incur expenses to maintain his house and car and boat. Peg is Jim's______________."

Answer 1

Answer:

Special agent

Explanation:

A special agent is a person that is authorized by another person to act on his/her behalf in specific circumstances that are clearly stated. According to this and given that Jim gave his sister the authority to do specifc transactions on his behalf, the answer is that Peg is Jim's special agent.

Answer 2

Answer:

Hi your question is incomplete here is the complete question

Jim was called to active duty in the military. Knowing that he would be out of the country for a year or more, he gave his sister Peg authority to pay bills in his name, access his bank accounts, buy and sell stock in his brokerage accounts, and incur expenses to maintain his house and car and boat. By Jim signing a power of attorney, Peg will be named as a(n) _______________.

Answer: Attorney-in-fact

Explanation:

An attorney-in-fact is someone authorized by someone to perform business related activities on their behalf like with the ones listed out which included paying bills in Jim's name, accessing his bank accounts, buying and selling stock in his brokerage accounts.  only an Attorney-in-fact can undergo such business transaction and this authority is passed on to the Attorney-in-fact when the owner of such business transactions signs a document known as power of attorney.

The major difference of An Attorney-in-fact and others is that an Attorney-in-fact can only act after the power of Attorney have been signed by the owner of the business transactions and also an Attorney-in-fact can is allowed to incur debts on behalf of the business owner.