COMLAW3 EXAM: When the partnership is with capital of P3, 000 or more contract must appear in a public instrument AND it must be recorded or registered w/ the SEC.
Non-compliance with this rule prevents the formation of the partnership or affect any liability towards third persons.

Question

When the partnership is with capital of P3, 000 or more contract must appear in a public instrument AND it must be recorded or registered w/ the SEC. 
Non-compliance with this rule prevents the formation of the partnership or affect any liability towards third persons.

Pam Johniela Javelona · Accepted Answer

FALSE
non-compliance with this rule does not prevent the formation of the partnership or affect any liability towards third persons.

COMLAW3 EXAM

When the partnership is with capital of P3, 000 or more contract must appear in a public instrument AND it must be recorded or registered w/ the SEC. Non-compliance with this rule prevents the formation of the partnership or affect any liability towards third persons.

FALSE non-compliance with this rule does not prevent the formation of the partnership or affect any liability towards third persons.

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