Question about an accrual account and business checking account?
Monday, August 11th, 2008
D asked:
My familiy owns 50% of a business, and there is a business partner who owns the other 50%. Due to health issues the business partner is selling her half. She has decided that when she sells, she is taking the contents of the accrual account and the checking account (and possibly any other savings). This seems extremely wrong, and possible illegal to me. Can anyone tell me if this is in fact something that shouldn’t happen, and what we can do to stop it? Thank you very much.
Gene
My familiy owns 50% of a business, and there is a business partner who owns the other 50%. Due to health issues the business partner is selling her half. She has decided that when she sells, she is taking the contents of the accrual account and the checking account (and possibly any other savings). This seems extremely wrong, and possible illegal to me. Can anyone tell me if this is in fact something that shouldn’t happen, and what we can do to stop it? Thank you very much.
Gene