Question & AnswerQ&A (Acts No. 4147)
The main purpose of Act No. 4147 is to regulate the use of tax receipts or signs by persons engaged in business by amending Section One of Act No. 3883, ensuring that only true names or properly registered business names are used in business transactions and displays.
Section One of Act No. 3883 is amended by Act No. 4147.
It is prohibited for any person to use or sign any name other than his true name on written or printed receipts, contracts not notarized, or business transaction evidences, or to exhibit any business or firm name or style without first registering such name with the Bureau of Commerce along with their true names and those of any joint interest holders.
It is unlawful to use a name other than the true name on any written or printed receipt, including tax receipts, on contracts not verified by a notary public, or on any written or printed evidence of agreements or business transactions.
A person must first register the firm name or business name with the Bureau of Commerce along with their true name and the names of any other persons having a joint or common interest in such business or transactions.
The registration must include the true name of the person engaged in business and that of any other person having a joint or common interest in the contract, agreement, business transaction, or business.
The sign announcing the firm name or business name or style must be conspicuously exhibited in plain view in or at the place where the business is conducted.
Yes, the law specifically mentions that the use of any name other than the true name on contracts not verified by a notary public is unlawful unless the business name is registered accordingly.
The Bureau of Commerce is responsible for registering business names under this law.
The Act took effect upon its approval on November 28, 1934.