Legal Question in Business Law in Tennessee

Personal Use of Company Money

I am a bookkeeper for a company that is privately owned by father (Pres) & son (VP).(s-corp). I am often requested (by the son) to write checks for the son's personal debts, (house cleaning, lawn service, credit card bills, personal friends, relatives, etc.) I know this has nothing to do with the company. My question is ''Is this okay?'' and if not can I be held responsible in anyway if not?

Thank you


Asked on 2/24/04, 10:20 am

1 Answer from Attorneys
Alan Crone Crone & McEvoy, PLC

Re: Personal Use of Company Money

No it is not okay. You could get in serious trouble with the father. I don't know the relationship between the father and the son, you know it better than me. If the son does not have permission he could be stealing. You would be helping him. Also if there are other shareholders they could be mad.

You should be very careful.

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Answered on 2/24/04, 10:35 am


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