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Q. |
Every contract of partnership having a capital of three thousand pesos or more, in money or property, shall appear in a public instrument, which must be recorded in the Office of the Securities and Exchange commission. Failure to comply with this requirement; |
A. | Renders the contract of partnership void. |
B. | Renders the contract of partnership unenforceable. |
C. | Affects the liability of the partnership to third persons and the partnership has no legal personality. |
D. | Does not affect the liability of the partnership to third persons and the partnership still has a legal personality. |
Answer» D. Does not affect the liability of the partnership to third persons and the partnership still has a legal personality. |
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