Legal Question in Business Law in Ohio

Illegal action or immoral partner?

is it illegal or just immoral for a partner to take a company A/R check and use it to purchase a vehicle without the other partners knowledge or consent,


Asked on 10/15/07, 1:50 pm

2 Answers from Attorneys
Robert Rosplock Rosplock & Perez

Re: Illegal action or immoral partner?

If there is no written partnership agreement that provides otherwise, it is not appropriate for a partner to take partnership funds except as an agreed profit distribution or loan repayment.

This is certainly actionable. Whether it is criminal depends on many issues, including the amount taken in relation to any funds the partner is due and the value of his capital account.

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Answered on 10/15/07, 4:21 pm
Robert Rosplock Rosplock & Perez

Re: Illegal action or immoral partner?

If there is no written partnership agreement that provides otherwise, it is not appropriate for a partner to take partnership funds except as an agreed profit distribution or loan repayment.

This is certainly actionable. Whether it is criminal depends on many issues, including the amount taken in relation to any funds the partner is due and the value of his capital account.

Read more
Answered on 10/15/07, 4:21 pm


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