Question

Every contract of partnership having a capital P3,000 or more in money or property shall appear in a public

instrument which must be recorded in the Securities and Exchange Commission. Failure to comply with said
requirements.
a. Will not affect the liability of a partnership and the members thereof to third persons.
b. Will render the partnership void.
c. Will not give the partnership a legal personality.
d. Will give the partnership a de facto existence.

Answer 1

Failure to comply with the requirements of recording a partnership contract with a capital of P3,000 or more does not affect the partnership's liability to third persons.

Step-by-step explanation:

According to the law, every contract of partnership with a capital of P3,000 or more must appear in a public instrument and be recorded in the Securities and Exchange Commission. Failure to comply with these requirements will not affect the liability of a partnership and its members to third persons. It does not render the partnership void, give the partnership a legal personality, or give it a de facto existence. The requirements of recording the partnership contract are mainly for the purpose of transparency and legal protection.