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Debt Contract Agreement 2020

This contract establishes a debt of 200 Philippine pesos from Neil Maynard P. Pagente (the debtor) to Kyle Justine Pagente (the creditor). The debtor agrees to borrow the full amount of 200 pesos and repay it in cash by September 30, 2020. If the debtor fails to repay the debt by that date, interest will accrue at 5% per day on the outstanding amount. Both parties signed the contract on September 25, 2020 in Lingasad, Polanco, Z.N., Philippines to acknowledge the terms of the agreement.

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81 views1 page

Debt Contract Agreement 2020

This contract establishes a debt of 200 Philippine pesos from Neil Maynard P. Pagente (the debtor) to Kyle Justine Pagente (the creditor). The debtor agrees to borrow the full amount of 200 pesos and repay it in cash by September 30, 2020. If the debtor fails to repay the debt by that date, interest will accrue at 5% per day on the outstanding amount. Both parties signed the contract on September 25, 2020 in Lingasad, Polanco, Z.N., Philippines to acknowledge the terms of the agreement.

Uploaded by

Delictus Personae
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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CONTRACT OF DEBT

KNOW ALL MEN BY THESE PRESENTS:

This BORROWIN CONTRACT, made and executed this 25TH day of September, 2020 by and
between:
 
        (KYLE JUSTINE PAGENTE), of legal age, single/married to (Name of spouse if
any), Filipino, and with residence and postal address at (Lingasad, Polanco, Z.N.), hereinafter
referred to as the "CREDITOR";
 
-AND-
 
        (NEIL MAYNARD P. PAGENTE), Filipino and with residence and postal address at
(Lingasad, Polanco, Z.N.), hereinafter referred to as the "DEBTOR".
 
WITNESSETH;
 
        WHEREAS, the CREDITOR has financial capacity to lend a certain sum of money;
 
        WHEREAS, the DEBTOR has offered to borrow and the CREDITOR has agreed to lend
under the terms and conditions herein below set forth;
 
        NOW THEREFORE, for and in consideration  of the total sum of (Two Hundred Pesos)
(Php: 200.00) Philippine Currency, and of the covenants herein after set forth the CREDITOR 
agrees to LEND and the DEBTOR agrees to borrow the aforesaid amount subject to the
following terms and conditions:
 
1. The total consideration shall be Two Hundred (Php: 200.00) PESOS, Philippine Currency,
payable as follows:
 
The balance in the amount of Two Hundred (Php: 200.00) PESOS, shall be paid in Cash on or
before September 30, 2020.
 
In case nonpayment of debt, the DEBTOR will incur interest 5% per day of the said amount.

IN WITNESS WHEREOF, the parties have hereunto affixed their signatures, this 25th day of
September, 2020 at Lingasad, Polanco, Z.N., Philippines.
 
 

  KYLE JUSTINE PAGENTE                  NEIL MAYNARD PAGENTE


Name                                                       Name

 
 
SIGNED IN THE PRESENCE OF:
 
__________________________               ____________________________
 

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