"TOTO, TIKBOY, LANCE AND TONIO ARE FRIENDS. AMONG THE FOUR, ONLY LANCE IS THE AMERICAN RESIDING IN THE PHILIPPINES WHILE THE REST ARE LOCAL RESIDENT FILIPINOS.ALL OF THEM ARE FINANCIALLY CAPABLE WITH HIGH BUSINESS INTEREST. THEY WANTED TO FORM A PARTNERSHIP TO ENGAGE IN BANKING BUSINESS BUT WHEN THEY ARE BRAINSTORMING ABOUT ITS NAME, TOTO, TIKBOY AND TONIO WANTED TO CALL IT "ANG BANGKONG WAGI! BOW!" WHEREAS LANCE OBJECTED AND WANTED IT CALLED "VICTORY BANK". OVERRULED BY MAJORITY, LANCE CONCEDED TO THE NAME. THEY AGREED ON EQUAL SHARING OF PROFITS EVEN IF THE AMERICAN WILL CONTRIBUTE 40% OF THE CAPITAL WHILE THE 3 FILIPINOS WILL CONTRIBUTE THE REMAINING 60% THEREOF.THEN THEY SIGNED AN ARTICLES OF PARTNERSHIP TO FORMALIZE THEIR AGREEMENT. QUESTION: WILL THEIR PARTNERSHIP BE LEGALLY ACCEPTABLE?"