Anna, Rea and Jem agreed to form a limited partnership with Jem as limited partner contributing P200,000 and Anna and Rea as general partners contributing P100,000 each. The partnership which is to engage in the trading of gaming CDs was named "JAR Gaming Co., Limited" as shown in the certificate signed and sworn to by the partners before a notary public. However, the certificate was not filed with the SEC. In the meantime, the said partners,Anna, Rea and Jem beganoperating the business and transacting with third persons.

Based on your answer on the previous activity (Assignment #1), explain/expound your chosen answer by supporting it with a provision or article/s in the Contract of partnership.