Article-of-Partnership-of-Professionals-Ralph-Edited.docx

October 12, 2017 | Author: Sj Eclipse | Category: Partnership, Business Law, Crime & Justice, Justice, Society
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ARTICLES OF PARTNERSHIP Of SUPERFAST INTERNET CENTER, LTD. KNOW ALL MEN BY THESE PRESENTS: That we, the undersigned, of legal age, citizens and residents of the Philippines, have this day v o l u n t a r i l y b i n d s o u r s e l v e s t o g e t h e r f o r t h e p u r p o s e o f f o r m i n g a partnership, under the terms and conditions, herein set forth, and subject to the requirements of existing the existing laws of the Republic of the Philippines. AND WE HEREBY CERTIFY: ARTICLE I. That the name of the partnership shall be called “Superfast Internet Center, Ltd.” and shall operate and transact business under said firm name. ARTICLE II. That the principal office of the Partnership shall be located at #23 Dr. A. Santos Ave. Brgy. San Isidro, Paranaque City. ARTICLE III. That the names, surnames, postal addresses, and designations of the partners of this partnership are as follows: NAME Ferdinand A. Ramos Revelyn M. Sotto

ADDRESS DESIGNATION #16 Road 9-B, UPS5, Sucat, Paranaque City General Partner 13 A Matimyas., Brgy. Don Manuel, Quezon City Limited Partner

ARTICLE IV. That the Partnership shall commence on this date, and shall continue until the Partners decide to terminate the Partnership. ARTICLE V. That the purpose of the Partnership shall be to engage in and carry on a computer rental business for internet access, office productivity, online communications, and online gaming. additional services will include but will not be limited to document printing, photo printing, photocopying, scanning, layout, editing, and typing services. ARTICLE VI. That the capital of the Partnership shall be Four Hundred Thousand Pesos ; P(400,000.00) will be contributed within thirty (30) days following the signing of this Agreement. It will be contributed as follows: Ferdinand A. Ramos Revelyn M. Sotto

P( 200,000.00) worth of computer equipment P (200,000.00) in cash

In individual capital account shall be maintained for each Partner and shall consist of his or her capital contribution, increased by (a) additional capital contributions made by him or her and ; (b) his or her share of Partnership profits and gains, and decreased by ;i> distributions of profits and capital to him or her and ; (c) his or her share of Partnership losses, deductions and credits, and otherwise in accordance with generally accepted accounting principles.

ARTICLE VII. That Ferdinand A. Ramos shall have the rights in the management of the partnership business, and as managing partner shall devote his entire time to the conduct of the business. Without the consent of the other partner neither partner shall on behalf of the partnership borrow or lend money, or made, deliver, or accept any commercial paper, or execute any mortgage, security agreement, bond, or lease, or purchase or contract to purchase, or sell or contract to sell any property for or of the partnership other than the type of property bought and sold in the regular course of its business.

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