Comment on the following: A letter of authority is nothing but a power of attorney.

A letter of authority is nothing but a power of attorney. It is executed on plain paper and not on stamp paper. A letter of authority is usually issued for collecting some documents or papers dividend or interest on behalf of another. By and large, the law relating to the power of attorney will apply to letter of authority. A power of attorney includes an instrument empowering a specified person to act for and in the name of the person executing it. It is always kept by the attorney. It may be either general or special, i.e., to do all acts or to do some particular act.