Legal Question in Employment Law in Philippines
what is misappropriation of funds? does the use of the company's sales to pay for the medical expenses of the victim hit by our company driver considered misappropriation of funds? we promised the victim that we will shoulder all her medical expenses related to the accident. the victim felt satisfied with our assistance, thus, she will not press charges anymore which was written down in her notarized statement.
Asked on 4/12/12, 8:52 pm
1 Answer from Attorneys
VOLTAIRE T. DUANO
VOLTAIRE T. DUANO LAW OFFICE
Misappropriation of funds is a form of estafa.This means that the money was used for other purpose (personal use).If the management has the permission on this then there can be no misappropriation of funds. But if the use of the funds was without any authority from the management then there can be misappropriation of funds.
Answered on 4/12/12, 9:51 pm
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