Joshua Fernandez #131 - Ent-BL 1

BSEntrep – 3A Ma’am Mona Lisa Dabao

Assessment Task 1

1. How many persons are enumerated in the case above? State each one of them and discuss what kind of
entity or personality are they.

In the case described, there are two individuals enumerated:

 A: A represents one of the partners in the partnership named "A & B Company." In this
context, A is a natural person.
 B: B represents the other partner in the same partnership, and like A, B is also a natural
person.

2. What if A and B did not register their partnership with the Securities and Exchange Commission, can A
and B still operate their business? Why or why not?

Yes, they may still operate their business, but it would have certain legal implications:
 Lack of Legal Recognition: Without registration, their partnership may not have legal
recognition as a separate business entity. This means that they might not be able to enjoy
certain benefits and legal protections that come with formal registration, such as limited
liability or tax advantages.
 Compliance Issues: Operating without proper registration could lead to compliance issues
and potential legal consequences. They may face fines or other penalties for not adhering
to regulatory requirements.
 Limited Access: Some business opportunities, contracts, or financing options may be
available only to registered entities, so A and B might miss out on these opportunities.

3. Briefly discuss in one paragraph using your own words the term "separate juridical personality"

The legal concept of separate juridical personality refers to the idea that a business entity, such as
a corporation or a registered partnership, is considered a distinct and separate entity from its
owners or shareholders. This separation means that the business entity can enter into contracts,
own property, sue or be sued, and incur debts in its own name, independent of its owners.