Bar Exam Uniform Quiz
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BUSINESS ASSOCIATIONS AND RELATIONSHIPS
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An elderly woman gave her nephew a written, durable power of attorney that authorized him to manage her financial affairs, including paying bills and making investments. The document stated it was effective immediately. For the first two years, the woman continued to manage her own affairs and the nephew took no action. After the woman suffered a stroke and became incapacitated, the nephew began using the power of attorney to pay her medical bills from her bank account.
When was the agency relationship between the woman and her nephew formed? Select one.
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