Which type of agency relationship is characterized by a broad and general power of attorney?

In the context of agency relationships, a universal agency is defined by the granting of broad, comprehensive powers over an individual's affairs. This type of agency allows the agent to act on behalf of the principal in a wide range of matters, covering nearly all aspects of the principal’s legal affairs. A universal agent has extensive authority to make decisions, enter into contracts, and conduct transactions without needing further permission from the principal for each action taken.

The characteristic of a universal agency as having a broad and general power is significant because it signifies trust and authority bestowed upon the agent to handle the principal's interests in a manner akin to the principal themselves. This includes, but is not limited to, financial management, legal actions, and personal matters, depending on the terms of the power of attorney.

In contrast, other types of agency relationships have more defined or limited powers. A general agency typically allows an agent to conduct business in a specific area or for a specific purpose but does not encompass the broad scope represented by universal agency. Special agency refers to an agency that is limited to a particular task or transaction. Limited agency, much like special agency, also restricts the agent's authority to specific actions or conditions. Thus, the universality of authority defines why the answer points