What are some uses of a power of attorney?

A power of attorney may be used to give another the right to sell a car, home or other property. A power of attorney might be used to allow another to access bank accounts, sign a contract, make health care decisions, handle financial transactions or sign legal documents for the principal. A power of attorney may give others the right to do almost any legal act that the maker of the power of attorney could do, including the ability to create trusts and make gifts

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1. What is a power of attorney?
2. What are some uses of a power of attorney?
3. Where may a person obtain a power of attorney?
4. Does a power of attorney need witnesses or a notary?
5. What is a “principal”?
6. What is an “agent”?
7. What is a “third party”?