Partnership's Lack of SEC Registration; Article 1772
Article 1772. 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 the requirements of the preceding paragraph shall not affect the liability of the partnership and the members thereof to third persons. (Civil Code; Republic Act No. 386)
Failure to comply with the requirements of the preceding paragraph shall not affect the liability of the partnership and the members thereof to third persons. (Civil Code; Republic Act No. 386)
Kapag tatlong libong piso (3,000 pesos) o higit pa ang puhunan - pero o ariarian - ng isang asosasyon (partnership), ang kotratang nagpapakita ng kasuduan para itatag ito ay dapat nasa nanotaryuhang papeles at kailangan itong iulat sa Komisyon sa mga Panagot at Palitan (KPP o SEC).
Ang hindi pagsunod sa rekisitos na ito ay hindi makaaapekto sa pananagutan ng asosasyon at ng mga miyembro (kasapi) nito sa ibang tao.