Doing Business In Israel - Beware The Dishonest Partner

Doing Business In Israel - Beware The Dishonest Partner

A word of caution to new and old Olim. One can find a dishonest partner anywhere in the world. But perhaps it might be easier to find one here in Israel - not anIsraeli, but rather a fellow Anglo!

In our search for honesty we might believe that a fellow Anglo has more in common and understands our interests better.

Don't fall for it.

Always perform a back-up check on a potential partner. And have a trial period of at least 3 months. He or she may turn out to be a blessing or someone with severe mood swings taking Prozac and sleeping pills daily.

This story is from the New York Times:

One of the most frequent and deplorable agents of sudden ruin is the dishonest partner.

No business can be managed without mutual confidence between thosewho conduct it; and though, when we hear that a commercial man has brought himself within reach of the law, we are inclined to doubt if his partner can have been unaware of his malpractices, yet it must beobvious that the dishonesty of one partner too often arises from theunsuspicious simplicity ... ity of the other.

There are even instances in which no amount of sagacity will save aman from the enterprises of a roguish partner.

The following is a very common case: A and being partners, A dies, and his son succeedsto his share of the business. So long as A was alive the speculativetendencies of B were kep t in check; but young. A has not the sameexperience as his father; he has learned to respect B; he looks to him for guidance; and if B has made up his mind to extend thebusiness of the firm by new methods, he is head partner, the junior partner will generally be a mere tool in his hands.

If young A be more fond of pleasure than business he will of be evenless than a tool-a mere , and B will be left to manage.matters as he pleases, until he succeeds m his schemes, and proposes to buy A outof the business; or fails and brims A to' poverty and disgrace. It is a cruel thing that if 13 has absconded, A will have to bear theentire brunt of creditors' wrath, and, perhaps be punished for his . But partners have learned this lesson so often that it is almost awonder how any sane man can assume responsibilities without ascertaining the nature and extent of them.

It is certainly not for the public interest that the sudden ruin of an honest partner should be pleaded in extenuation for his or carelessness.

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