posted by sabi .
can i company lend money to one of its director to assist with an extension to her house in which she is intending to take in ironing 2 days a week for the company and will work from her house?
Thank you in advance!
Yes, unless the bylaws prohibit it. Frankly, it bothers me with her relationship to the company. If she is taking in ironing "for the company" isnt that some sort of employee relationship, or a contractor to the company? It appears she is a director AND a part-time employee.
All of the loan agreements and other relationships should be in writing.
thanks for your help and happy new year!
18. Hall sponsored a boat race in which the first prize was advertised as a 14-foot boat trailer and a 20-horsepower motor. After verifying with Hall that the prizes advertised were correct, Bean entered the race and won. When he went to collect the prizes, he was told that there had been a mistake and was offered a 6-horsepower motor as first prize.