5. The partners shall provide their services on a full-time basis and their best efforts on behalf of the partnership. No partner receives a salary for the services provided for the partnership. Each partner has the same rights to manage and control the partnership and its activities. In case of disagreement between the shareholders on ordinary matters, a decision is taken unanimously. It goes without saying that partners can choose one of the partners to manage the day-to-day activities of the partnership; However, no partner is able to bind the partnership by an act or contract to liability exceeding pesos without the prior written consent of each partner: __P_______________ The partnership statutes are a document in which people enter into a partnership agreement or contract. A partnership is when two or more people commit to bringing money, property or industry to a mutual fund to carry out transactions and with the intention of spreading profits and losses among themselves. 4. Limited partnership. On the other hand, a limited partnership is a partnership where there is one or more complementary and one or more commanders. Sponsors are only liable to the extent of their deposit.
The name of a limited partnership should always include the word „Limited“ or „Ltd“. In general, a partnership can be general or limited. 8. No partner may transfer interest in the partnership to another party without the written consent of the other partner(s). The remaining partner pays to the outgoing or outgoing partner or to the legal representative of the deceased or disabled partner the value of his participation in the partnership or a) the amount of his capital account, b) all unpaid loans due to him, c) his proportional share of the net accrued profit not distributed in his capital account, and (d) its interest in a pre-agreed amount of value added; g of ownership of the partnership on its book value. .