Using Philippine law, answer the questions:

1. Can a husband and wife form a partnership to engage in real estate business, with the wife being the managing partner?
2. Isko and Pita agreed to form a partnership to engage in the selling of construction materials and supply. Each contributed money and property to the partnership's funds totaling P700,000. They started their business operations after securing the Mayor's Permit, however, they failed to register their partnership with the Securities and Exchange Commissions. What is the effect on their failure to register with the SEC, to the legality of the partnership, and the legality of their business operations?

Please elaborate in your answers.