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Articles of Partnership

Of
DJDGV COMPANY

KNOW ALL MEN BY THESE PRESENTS:


That, we the undersigned, all of legal age and residents of the Republic of the Philippines
have agreed to amend a general partnership under the terms and conditions herein after set forth
and subject to the provisions of existing laws of the Republic of the Philippines.

AND WE HEREBY CERTIFY:


ARTICLE I. That the name of the partnership shall be DJDGV COMPANY. It was derived by
combining the initial letter of surname of each partners.( De Castro, Javier, Dela Vega, Gara,
Valencia )
By this agreement, the partners enter into a general partnership wherein, all partners are
liable to the extent of their separate properties. The business was established for commercial or
trading partnership, which is formed for the business transaction.
That the purpose for which this partnership is established is to offer a delicious and
reasonably priced quality food snacks. The following food such as cookies, sweets ( stick o,
candies, gummy worms, polvoron), chips and peanuts will be the primary product of the
business.
That the location of the business are inside the Batangas State University Pablo Borbon
Main 1 Campus in Rizal Avenue, Batangas City.

ARTICLE II That the names, Citizenship, Email address, Birthday, Residences, Contact
numbers, and SR code of the respective partners are summarize below:

De Castro, Bhea Grace R. Gara, Rachelle D.


June 08, 2001 March 14, 2001
Filipino Citizen Filipino Citizen
Balanga, Ibaan, Batangas Bungahan, Ibaan, Batangas
09564769635 09771130357
bheagracedecastro@gmail rchllgrnjdmn110416@gmail.com
.com 19-54779
19-55164
Javier, Krishia Mae J.
Dela Vega, Cyrel Jade D. September 25, 2000
November 11, 2000 Filipino Citizen
Filipino Citizen Mabayabas, Taysan, Batangas
Kinalaglagan, Mataas na Kahoy, Batangas 09158056015
09073481293 Krishiamae.javier@yahoo.com
delavegacyrel@gmail.com 19-55826
19-51055

Valencia, Rowella Lyn C


January 27, 2001
Filipino Citizen
Banjo West, Tanauan City, Batangas
09999691527
v.rowella@yahoo.com
19-52827
ARTICLE III. That the partnership will begin on February 10th 2020,
and will continue until terminated as provided in this agreement, April 30th 2020.

ARTICLE IV . That the capital contribution of this partnership shall be Php 500.00. There are
no non-cash investment made by the partners. All contributions will be fully submitted and on
time, no later than February 10, 2020.
The following are the summarized capital contribution of the partners.

Name of Partner Contribution


De Castro, Bhea Grace R. Php 100. 00
Dela Vega, Cyrel Jade D Php 100. 00
Gara, Rachelle D Php 100. 00
Javier, Krishia Mae J. Php 100. 00
Valencia, Rowella Lyn C Php 100. 00

ARTICLE V. All the Partners will be consulted and the advice and opinions of the Partners will
be obtained as much as is practicable. However, the Managing Partner will have management
and control of the day-to-day business of the Partnership for the purposes stated in this
Agreement. All matters outside the day-to-day business of the Partnership will be decided by a
unanimous vote of the Partners.
The following Partner will serve as the Managing Partner: Rachelle D. Gara. The term
"Managing Partner" will also include any Party subsequently appointed to that role.
 In addition to day-to-day management tasks, the Managing Partner's duties will include
keeping, or causing to be kept, full and accurate business records for the Partnership
according to generally accepted accounting principles (GAAP) and overseeing the
preparation of any reports considered reasonably necessary to keep the Partners informed
of the business performance of the Partnership.
 A Managing Partner can voluntarily withdraw from the position of Managing Partner or
can be replaced by a unanimous vote of remaining Partners. In the event of a withdrawal
or removal of the Managing Partner from the position of Managing Partner or from the
Partnership, the remaining Partners will have equal rights in the management of the
Partnership until and unless they appoint a successor Managing Partner.
 The Managing Partner will not be liable to the remaining Partners for any action or
failure to act resulting in loss or harm to the Partnership except in the case of gross
negligence or willful misconduct.
 The Managing Partner is authorized and may retain, or otherwise secure or enter into
contracts with persons or firms as from time to time may be required in the management
of the Partnership's business including, but not limited to, arrangements with sales
companies, attorneys, accountants, brokers, advertising, and insurance companies.

ARTICLE VIII. In the event that partners withdraw or retires from partnership for any reason,
including death, the remaining partners may continue to operate the partnership using the same
name. Any partners will have the right to voluntarily withdraw from the partnership anytime.
Written notice of intention to withdraw must be served upon the remaining Partners at least 2
weeks prior to the withdrawal date.

ARTICLE IX. Dissociation of a Partner.


 Where the dissociation of a Partner for any reason results in the dissolution of the
Partnership, then the Partnership will proceed in a reasonable and timely manner to
dissolve the Partnership, with all debts being paid first, prior to any distribution of the
remaining funds. Valuation and distribution will be determined as described in the
Valuation of Interest section of this Agreement.
 The remaining Partners retain the right to seek damages from a Dissociated Partner
where the dissociation resulted from a malicious or criminal act by the Dissociated
Partner or where the Dissociated Partner had breached their fiduciary duty to the
Partnership or was in breach of this Agreement or had acted in a way that could
reasonably be foreseen to bring harm or damage to the Partnership or the reputation of
the Partnership.

Except as otherwise provided in this Agreement, the Partnership will be dissolve on April 30,
2020. In the event of the dissolution of the Partnership, each Partner will share in any remaining
assets or liabilities of the Partnership according to the following fixed percentages:
a. Rachelle D. Gara - 20 %
b. Bhea Grace R. De Castro - 20 %
c. Cyrel Jade D. Dela Vega - 20 %
d. Rowella Lyn C. Valencia - 20 %
e. Krishia Mae J. Javier - 20 %
Upon dissolution of the Partnership and liquidation of Partnership property, and after
payment of all selling costs and expenses, the liquidator will distribute the Partnership assets to
the following groups according to the following order of priority:
a. In satisfaction of liabilities to creditors except Partnership obligations to current Partners;
b. In satisfaction of Partnership debt obligations to current Partners; and then
c. To the Partners according to the Dissolution Distribution described above.
Any excess of Partnership assets after liabilities or any insufficiency in Partnership assets
in resolving liabilities under this section will be shared by the Partners according to the
Dissolution Distribution described above

IN WITNESS THEREOF, this agreement has been executed and delivered in the manner
prescribed by law as of the Effective date first written above.

Rachelle D. Gara Cyrel Jade D. Dela Vega


Signature Signature
February 10, 2020 February 10, 2020

Bhea Grace R. De Castro Rowella Lyn C. Valencia


Signature Signature
February 10, 2020 February 10, 2020

Krishia Mae J. Javier


Signature
February 10, 2020