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?
- Category: Criminal
- Subcategory: Embezzlement
- Date:
- State: Florida
Answer:
The authority of corporate officers is defined by the bylaws and resolutions passed by the corporation.
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