What is a Discretionary Account?
A form of entrustment. The owner of the account entrusts the transaction right to another person (usually a dealer). The trustee does not need to obtain the consent of the account owner before the transaction. Usually also referred to as "managed account" or "controllable account".
fully authorize
(Legal words)
- Chinese name
- fully authorize
- Foreign name
- carte blanche
- Brief introduction
- A form of commission
- Plural form
- For cartes blanches
- A form of entrustment. The owner of the account entrusts the transaction right to another person (usually a dealer). The trustee does not need to obtain the consent of the account owner before the transaction. Usually also referred to as "managed account" or "controllable account".
- Note: "Legal power" is a common word in legal documents; in daily life, "full power" is endless. In English, "carte blanche" can express the meaning of "full authority, entrust full responsibility". [1] "Carte blanche" comes from French and literally means "blank paper". The etymology records that carte blanche may initially be a military term: the "blank" agreement submitted by the defeated party after unconditional surrender. Of course, "blank" is only for the defeated party. On the "blank agreement", the winning party can fill in the truce clause at will. The defeated party only has the signature and unconditional performance clauses. In the 18th century, "carte blanche" evolved from an "unconditional defeat agreement" into a "full power of accountability" in the modern sense (that is, it has some absolute power). Look at the following example: The general manager gave his assistant carte blanche in this matter. (It is worth mentioning that the plural form of carte blanche is cartes blanches.