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The Agreement Case

Essay by   •  September 17, 2013  •  Essay  •  324 Words (2 Pages)  •  850 Views

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Al should fight back and regain his company; he should find a way to fire Wilbur as his business partner. The agreement he sign should have a stipulation or certain boundaries, there should be a proper company rules and regulation created by him to be use in day to day business. This way, any fraud or misbehave by anyone in the company would be reprehend and easy to get rid-off. He should always make sure that business agreement should always written in black and white with duties and responsibilities to avoid incident with Joe. He should have a different personnel dedicated in handling the company`s finance especially he will not be around during his study.

Finance personnel can also handle administrative job like sales monitoring, expenses and proper reconciliation of AHL accounts. Finance manager can also be the 2nd signatory for the company`s check, even pre-signed by Al, a second person can monitor what is going out the company. Also, when there is unauthorized withdrawal it will be easy to trace it. This way it is harder to commit fraud like Wilbur and Letitia does to Al and his company by withdrawing company funds for their personal use. Al should safe keep all company document to which the establishment of the company and its owner. This way, Al has a proof of ownership of the company, it would be hard for others to simply take his company away from him. If Al is thinking of staying in L.A. for good, he should shutdown the company and rebuilds it to L.A. instead of letting other people he doesn't know to handle his company. Even though he phone his personnel it doesn`t mean he`s in control. Sometimes, good people will tend to do something bad if persuaded and sees an opportunity.

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