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    Closure and Termination of Business

    Uploaded by

    Manny Sandicho
    This document is a deed of closure and dissolution of a memorandum of agreement between Gaudencio M. Herrera and Maria Fe E. Escano. It states that the parties previously entered into a partnership agreement in September 2017 that resulted in business losses. The parties now agree to close and dissolve the terms of the memorandum of agreement as of November 1, 2017, with operations ending on October 29, 2017. As part of the dissolution, Escano returns the PHP35,000 investment to Herrera. Both parties agree to waive any further claims against each other upon signing the agreement.

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    © All Rights Reserved
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    Closure and Termination of Business

    Uploaded by

    Manny Sandicho
    196 views2 pages
    This document is a deed of closure and dissolution of a memorandum of agreement between Gaudencio M. Herrera and Maria Fe E. Escano. It states that the parties previously entered into a partnership agreement in September 2017 that resulted in business losses. The parties now agree to close and dissolve the terms of the memorandum of agreement as of November 1, 2017, with operations ending on October 29, 2017. As part of the dissolution, Escano returns the PHP35,000 investment to Herrera. Both parties agree to waive any further claims against each other upon signing the agreement.

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    CLOSURE AND TERMINATION OF BUSINESS

    Original Title

    CLOSURE AND TERMINATION OF BUSINESS

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    © © All Rights Reserved

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    This document is a deed of closure and dissolution of a memorandum of agreement between Gaudencio M. Herrera and Maria Fe E. Escano. It states that the parties previously entered into a partnership agreement in September 2017 that resulted in business losses. The parties now agree to close and dissolve the terms of the memorandum of agreement as of November 1, 2017, with operations ending on October 29, 2017. As part of the dissolution, Escano returns the PHP35,000 investment to Herrera. Both parties agree to waive any further claims against each other upon signing the agreement.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    196 views2 pages

    Closure and Termination of Business

    Uploaded by

    Manny Sandicho
    This document is a deed of closure and dissolution of a memorandum of agreement between Gaudencio M. Herrera and Maria Fe E. Escano. It states that the parties previously entered into a partnership agreement in September 2017 that resulted in business losses. The parties now agree to close and dissolve the terms of the memorandum of agreement as of November 1, 2017, with operations ending on October 29, 2017. As part of the dissolution, Escano returns the PHP35,000 investment to Herrera. Both parties agree to waive any further claims against each other upon signing the agreement.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    of 2

    DEED OF CLOSURE AND DISSOLUTION

    OF MEMORANDUM OF AGREEMENT

    Know All Men By These Presents:


    That this deed is entered into by and between –

    GAUDENCIO M. HERRERA, of legal age, Filipino, married, and a


    resident of Malagasang II-C, Imus, Cavite, and hereinafter
    referred to as the FIRST PARTY; and

    MARIA FE E. ESCANO, likewise of legal age, Filipino, married,


    and a resident of Santiago, Gen. Trias, Cavite, and hereinafter
    referred to as the SECOND PARTY.

    Witnesseth, that:

    WHEREAS, the parties previously entered into a Memorandum of


    Agreement dated 07 September 2017, and entered as Doc. No. 412; Page
    No. 84; Book No. XXII; Series of 2017 in the Notarial Register of Atty.
    Anthony G. Escarez, notary public of Imus, Cavite;

    WHEREAS, after a couple of months of operations and there being


    irreversible business losses, the parties hereto agree to close, terminate
    and dissolve all the terms of the said Memorandum of Agreement;

    NOW THEREFORE, premises considered, the parties hereto agree


    and covenant as follows –

    1. The Memorandum of Agreement is closed, terminated and dissolved as


    of 01 November 2017, but operation ended as of 29 October 2017.
    PAGE 1 OF 2 -- DEED OF CLOSURE AND DISSOLUTION OF MEMORANDUM OF AGREEMENT

    2. At the time of signing this deed, the SECOND PARTY returns to the
    FIRST PARTY the amount of THIRTY FIVE THOUNSAND PESOS
    (PHP35,000.00) which corresponds to the FIRST PARTY’s total
    investment in the partnership agreement. And the FIRST PARTY
    hereby acknowledges receipt in full of the said amount.

    3. The parties upon signing this agreement quit, waive, release and clear
    any further claim from each other.

    IN WITNESS WHEREFORE, the parties hereto affixed their signatures,


    this _______ day of November 2017 in ___________________ Cavite.

    GAUDENCIO M. HERRERA MARIA FE E. ESCANO


    First Party Second Party

    Signed in the presence of –

    ____________________________ ____________________________
    (Printed Name & Signature) (Printed Name & Signature)
    REPUBLIC OF THE PHILIPPINES)
    PROVINCE OF CAVITE ) s.s.
    CITY OF IMUS )

    ACKNOWLEDGMENT
    BEFORE ME, a Notary Public for and in the Province of Cavite, this
    ______________________, personally came and appeared:
    Name Competent Proof of Identity Place and
    Date Issued
    GAUDENCIO M. HERRERA UMID CRN 011-5028021-6
    MARIA FE E. ESCANO Driv. Lic. D12-17-000715 LTO Pila DO

    known to me and to me known to be the same persons who executed the


    foregoing DEED OF CLOSURE AND DISSOLUTION OF MEMORANDUM OF
    AGREEMENT and they acknowledged to me that the same is their free and
    voluntary act and deed.
    WITNESS MY HAND AND SEAL, at the date and place first above
    written.

    Doc. No. _______;


    Page No._______;
    Book No._______;
    Series of 2017
    PAGE 2 OF 2 -- DEED OF CLOSURE AND DISSOLUTION OF MEMORANDUM OF AGREEMENT

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