Miss Lira Guilatco
SEC Opinion • Securities and Exchange Commission • Opinions • Jun 19, 1989
Full text
June 19, 1989 Miss Lira Guilatco 74 San Francisco St. Bo. Kapitolyo Pasig, Metro Manila Madam : This refers to your letter, dated June 15, 1989, requesting for the status of FISHPEN RESTAURANT CO. A verification of the articles of partnership of said company on file with the Commission disclosed that its term of existence shall be for a period of ten (10) years from and after May 29, 1978, the date of the execution of the articles. The term of existence of the company therefore had expired on May 30, 1988. In this connection Article 1830 of the Civil Code of the Philippines provides: "ARTICLE 1830. Dissolution is caused xxx xxx xxx (a) By the termination of definite term or particular undertaking specified in the agreement. xxx xxx xxx" Thus, pursuant to the aforecited provision, the company is deemed dissolved as of May 30, 1988. In view thereof, we are returning herewith the amended articles of partnership extending the term of the partnership for another five years or 15 years from May 29, 1988 filed on November 18, 1988 and the articles of dissolution dissolving the said partnership effective March 31, 1989 filed on May 16, 1989. Please be advised accordingly. Very truly yours, (SGD.) RODOLFO L. SAMARISTA Associate Commissioner
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