Legal Question in Business Law in Texas

? of legality of busniess concept

What is the name of your state? web based busniess out of tx

I have a ? if it is legal to create a busniess where you take in donations and then invest in the free market. the consumer expects no returns of their money in any way?

once the money is donated to you freely you can do with at as you freely like, as long as it you stay with in the fraud laws?


Asked on 4/09/06, 6:16 pm

1 Answer from Attorneys
Charles White Charles G. White

Re: ? of legality of busniess concept

You personally do not qualify as a "non-profit" organization or an organization set up for religious, charitable, purpose, etc. If you make representations or otherwise lead donors to believe that the donations are to be for non-profit purposes, and you instead used the funds for your personal purposes as suggested by you, you can expect to become a guest at the Texas Department of Corrections for a period of time (if you don't get shot first). I hope this answers your question.

P.S. I also hope that no one like you ever knocks on my door.

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Answered on 4/09/06, 6:42 pm


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