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#1262719 - 10/07/09 12:46 PM Right of Set-Off
Ward Offline
New Poster
Joined: Jul 2009
Posts: 22
I know everyone hates this topic (hard to find clear guidance).
Anyone want to take a crack at this?

Company A's checking acct is overdrawn and they want to close acct. One of the signers/owners of Company A also is signer/owner of Company B. Can I offset the OD balance against Company B?

My gut says no. I could see going after the signer/owner's personal accts, but not another business that has no real relationship with Company A.

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#1262988 - 10/07/09 03:58 PM Re: Right of Set-Off Ward
edAudit Offline
Power Poster
Joined: Jul 2008
Posts: 4,797
You are here

If the companies are Corporations you can not go after the individuals (signers or owners) as well.
Opinions can be considered as coming from anywhere but my employer.


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