Legal Question in Business Law in New York

Business Start Up

Hi. I just would like to know is anything illegal about accepting a check for a corporation before it is formed and/or has a corporate bank account?

For instance if I get a customer and they pay me in cash or check and it's made out to the corporation will that be legal as long as I eventually make a business bank account and only cash that check into that account?

Thank You


Asked on 3/01/05, 7:08 pm

2 Answers from Attorneys
Louis Venezia Law Offices of Louis Venezia at Union Square, P.C.

Re: Business Start Up

There is no real difficulty as long as there is no fraud involved, but you should immediately form that corporation. Our office handles the incorporation of businesses. If you wish to have a free consultation, you may call us at 212-267-7000.

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Answered on 3/01/05, 7:15 pm
Stephen Loeb Law Office of Stephen R. Loeb

Re: Business Start Up

The only real issue is that if there is no payee, the bank not honor the deposit, also if the check is deposited into a personal account you may have some problems with the comingling of funds but these are liability issues not legal issues.

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Answered on 3/01/05, 8:57 pm


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