articles of partnership
ARTICLES OF PARTNERSHIP
OF
KNOW ALL MEN BY THESE PRESEN TS:
These Articles of Partnership, made and executed by and among:
Ivone May R. Ybanez, Filipino, residing at 2532 San Vicente Village, Panabo City
Joseph G. Castro, Filipino, residing at 2508 P-3 Western San Vicente, Panabo City
Lynelle H. Bernabe, Filipino, residing at DAPCO Farm 2, Panabo City; all of legal age witnessed:
1. That they have formed a partnership among themselves under the name and style of
2. That the purpose for which said partnership is formed are:
3. That the principal office of the partnership shall be located at
4. That it is hereby stipulated that Ivone May R. Ybanez shall be the partner to whom the management of the firm and use of its signature shall be entrusted, and she shall exercise such powers necessary to attain the purposes of the partnership, including the power to draw drafts, bills of exchange and other negotiable instruments and accept the same for and in the name of the firm; to appoint and dismiss employees and to fix their tenure and compensation; to deposit money in banks and with the counter-signature of the Treasurer, to withdraw the same for purpose of the partnership;
5. That the term existence of this partnership shall be twenty (20) years from and after the execution of these articles;
6. That the capital of the partnership shall be contributed by the partners, as follows, to wit:
Ivone May R. Ybanez . . . . . . . . . . . . . . . . . . P 6,000,000.00
Joseph G. Castro . . . . . . . . . . . . . . . . . . . . . P 5,500,000.00
Lynelle H. Bernabe . . . . . . . . . . . . . . . . . . . . P 4,500,000.00
Thereby making a TOTAL CAPITAL of . . . . . P 16,000,000.00
7. That the profits and losses shall be divided share and share alike among the partners of the partnership;
8. That the managing partner is hereby given a salary of Fourty Thousand Pesos ( P40,000.00) per month.
9. That, if during the term of the partnership, any of the
OF
KNOW ALL MEN BY THESE PRESEN TS:
These Articles of Partnership, made and executed by and among:
Ivone May R. Ybanez, Filipino, residing at 2532 San Vicente Village, Panabo City
Joseph G. Castro, Filipino, residing at 2508 P-3 Western San Vicente, Panabo City
Lynelle H. Bernabe, Filipino, residing at DAPCO Farm 2, Panabo City; all of legal age witnessed:
1. That they have formed a partnership among themselves under the name and style of
2. That the purpose for which said partnership is formed are:
3. That the principal office of the partnership shall be located at
4. That it is hereby stipulated that Ivone May R. Ybanez shall be the partner to whom the management of the firm and use of its signature shall be entrusted, and she shall exercise such powers necessary to attain the purposes of the partnership, including the power to draw drafts, bills of exchange and other negotiable instruments and accept the same for and in the name of the firm; to appoint and dismiss employees and to fix their tenure and compensation; to deposit money in banks and with the counter-signature of the Treasurer, to withdraw the same for purpose of the partnership;
5. That the term existence of this partnership shall be twenty (20) years from and after the execution of these articles;
6. That the capital of the partnership shall be contributed by the partners, as follows, to wit:
Ivone May R. Ybanez . . . . . . . . . . . . . . . . . . P 6,000,000.00
Joseph G. Castro . . . . . . . . . . . . . . . . . . . . . P 5,500,000.00
Lynelle H. Bernabe . . . . . . . . . . . . . . . . . . . . P 4,500,000.00
Thereby making a TOTAL CAPITAL of . . . . . P 16,000,000.00
7. That the profits and losses shall be divided share and share alike among the partners of the partnership;
8. That the managing partner is hereby given a salary of Fourty Thousand Pesos ( P40,000.00) per month.
9. That, if during the term of the partnership, any of the