starting a single proprietorship business

[sleeplessbuddy]

What is the name of your state? Arkansas

I started a small business of buy and sell. I buy baby formula on sale and re-sell them. I have clients who receive formula checks from the formula companies. Can I accept them as payments even if the check is directed to any retailer of formula? Am I considered a retailer of formula even if I sell only a few cans that I buy on sale from stores and re-sell them at discount to my customers?

I asked my bank if I can negotiate the formula check and was told they will take it if I open a business checking account.

So is it legal to re-sell baby formula and accept the checks as tender?

 

[racer72]

You will have to ask the issuer(s) of the checks if they will honor them if you deposit them in your business account. I am going to guess and say the will only honor checks from primary retailers, this would exclude you.