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  1. #1
    Join Date
    May 2008
    Posts
    2

    Default Is An Employee Responsible For Company Credit Card

    My question involves business law in the state of CA

    I worked for a company that is now going out of business. During my stay to help them pay the bills and come up with cash while they strategize into increasing revenues, I told them that we could apply for company credit cards. The president and vice-president (the partners) verbally approved with the president signing the application as guarantee since the vp had bad credit.

    Now the 2 have broken up in a bad way, and the president has told me that I am liable for putting him in this position. He said he legally I am liable for the debts since I put his name and not just the other partner's name...thus ruining his credit. Is this true, can I be sued and liable for this?

    Haven't talked to the other partner but I'm sure he'll support me that it was authorized. Beside the president signed the applications before submitting so he knew what I was doing.

  2. #2
    Join Date
    Mar 2007
    Posts
    9,096

    Default Re: Is An Employee Responsible For Company Credit Card

    Smells like the stench of fear to me.

    I wouldn't worry about it.... the President's name is on the card... who charged things to it?

  3. #3
    Join Date
    May 2008
    Posts
    2

    Default Re: Is An Employee Responsible For Company Credit Card

    i charged things to it and so did the office manager..to either pay outstanding bills via cc or purchase office related expenses. these were done with their knowledge and authorization. since i was the only finance person did i have a fiduciary responsibility?

    btw, also figured he was trying to scare me to get me to his side in case he and the other partner sue each other.

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