Legal analysis: Out-of-court settlement refers to the settlement made by the parties themselves, which embodies the principle of party autonomy. However, if the out-of-court settlement fails, the settlement agreement reached by both parties has no legal enforcement effect. If one party fails to perform, the other party will still have to deal with it through litigation. In-court reconciliation means that the two parties mediate and reach an agreement under the auspices of the court, and the court can issue a conciliation statement. Mediation can be implemented as soon as it takes effect. If one party fails to perform the effective conciliation statement, the other party may directly apply for enforcement.
Legal basis: Civil Code of People's Republic of China (PRC).
Article 165 If the power of attorney is in written form, it shall specify the name of the agent, the matters to be represented, the authority and the time limit, and shall be signed or sealed by the principal.
Article 919 An entrustment contract is a contract in which the principal and the agent agree that the agent shall handle the principal's affairs.
Article 920 The principal may entrust the agent to handle one or more specific affairs, or may entrust the agent to handle all general affairs.