Legal Question in Business Law in Minnesota
corporate check?
Why is that when one opens a brokerage account in a corporate name the brokerage firm demands that the funds be drawn on an account that bears the corporate name also?
There must be some legal reason that would invalidate the contract or account if the account was funded with a personal check?
Asked on 8/01/06, 7:39 pm
1 Answer from Attorneys
David Anderson
Anderson Business Law LLC
Re: corporate check?
Privity of contract. Read your account documents.
Answered on 8/01/06, 8:25 pm
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