Legal Question in Banking Law in Georgia
Company investing other peoples money.
The company I work for is a logigistics company that basically process and pays othber companies bills. All of the funds from the customers come into an account and our paid out by check. But there is a week to 2 week lapse between where the funds are collected and when the checks clear. So at all times the account had 1.5 to 2 Million sitting there. Our boss decided to take 1.5 million and put it in an investment account. My question is is that legal? It doesn't sound right to me. Investing another companys money without their knowledge.
Asked on 7/28/06, 9:23 am
1 Answer from Attorneys
David Anderson
Anderson Business Law LLC
Re: Company investing other peoples money.
It is a contract matter. What does contract with customers state?
Answered on 7/28/06, 3:38 pm
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