Legal Question in Business Law in New York
Business Start Up
Hi. I just would like to know is anything illegal about accepting a check for a corporation before it is formed and/or has a corporate bank account?
For instance if I get a customer and they pay me in cash or check and it's made out to the corporation will that be legal as long as I eventually make a business bank account and only cash that check into that account?
Thank You
2 Answers from Attorneys
Re: Business Start Up
There is no real difficulty as long as there is no fraud involved, but you should immediately form that corporation. Our office handles the incorporation of businesses. If you wish to have a free consultation, you may call us at 212-267-7000.
Re: Business Start Up
The only real issue is that if there is no payee, the bank not honor the deposit, also if the check is deposited into a personal account you may have some problems with the comingling of funds but these are liability issues not legal issues.
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