Is it embezzlement by one partner if he is using company funds to pay personal expenses?
Full Question:
In a corporation where the partners are 50/50 owners - is it embezzlement by one partner if he is using company funds to pay personal expenses instead of the company issuing a check as repayment of loan? Does he have the right to spend company money however he pleases just because he loaned the company money?
08/13/2007 |
Category: Criminal ยป Embezzlement |
State: Florida |
#7901
Answer:
The authority of corporate officers is defined by the bylaws and resolutions passed by the corporation.
