Questions & Answers
Obligation of the cheque signatory when he wants to leave the company
I am working in a tourism company in Sharjah, the 100% ownership is with the sponsor. The company started in March 2019, after 3 years only, to change to LLC as per the license.
The sponsor gave me power of attorney to open a bank account so I am signing on cheques and all is going perfectly.
My company has 7 partners and they took various letters on the company letterhead and stamped for mutual agreement, and also my 2 blank cheques and one checkbook are with them.
Please advise, is there any issue if I quit the company?
I want to repay AED 50000 to the company because I paid credit to customers still not received, and I will pay but need few months time to repay the same. They threatened like talking more.
Please advise and how can you help

You will be responsible for all the signed cheques.
It’s always advisable to make an agreement between you and the partners regarding the duties and liabilities.