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Compromise Agreement

This document is a compromise agreement between a plaintiff and defendants to settle a court case for the amount of 386,205.42 PHP. The defendants admitted to owing the plaintiff and agreed to pay in installments over several months, with the final balance to be paid in full by a specified date. The agreement stipulates that if the defendants miss two consecutive payments, the full amount will become due immediately and the plaintiff can seek a writ of execution. Both parties voluntarily agreed to the terms of the compromise.

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Armie Ferrer
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92 views2 pages

Compromise Agreement

This document is a compromise agreement between a plaintiff and defendants to settle a court case for the amount of 386,205.42 PHP. The defendants admitted to owing the plaintiff and agreed to pay in installments over several months, with the final balance to be paid in full by a specified date. The agreement stipulates that if the defendants miss two consecutive payments, the full amount will become due immediately and the plaintiff can seek a writ of execution. Both parties voluntarily agreed to the terms of the compromise.

Uploaded by

Armie Ferrer
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOC, PDF, TXT or read online on Scribd
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COMPROMISE AGREEMENT

This COMPROMISE AGREEMENT, made and entered into this i,


Philippines by and between:

through its authorized representative, of legal age, Filipino,


with office address at hereinafter referred to as the “Plaintiff”;
- and -
, both of legal age, Filipino, with address at hereinafter
referred to as the “Defendants”;

WITNESSETH:

WHEREAS, the Plaintiff filed a case against the Defendants for Sum
of Money in the amount of Three Hundred Eighty-six Thousand Two
Hundred Five Pesos and 42/100 (Php386,205.42) for f Civil Case No.
_______________________ or a total amount of Seven Hundred Forty-three
Thousand Six Hundred Two Pesos and 45/100 (Php743,602.45);

WHEREAS, the Defendants admitted the claim of the Plaintiff;

WHEREAS, the Plaintiff and the Defendants reached an amicable


settlement;

WHEREAS, the Plaintiff and the Defendants agree to submit this


Compromise Agreement to put an end to the litigation hereof, except for
purposes of execution in case of default;

NOW, THEREFORE, for and in consideration of the foregoing


premises, the Plaintiff and the Defendants hereby agree as follows:

a. That the Defendants will pay the Plaintiff the total amount
of __________________________________

b. That the Defendants shall pay


___________________________ for
______________________ months starting from
__________________ to ___________________;

c. That on ____________________, the Defendants shall, in


addition, pay in full the remaining balance of Three Hun-
dred Eighty-three Thousand Six Hundred Two Pesos and
45/100 (Php383,602.45);

d. The Defendants shall pay the monthly installment payments


every end of the month thru over-the-counter payments at
the office of the Plaintiff;
e. That in the event the Defendants fail to pay two (2) consec-
utive monthly installments, the entire obligation or the bal-
ance thereof shall become immediately due and demand-
able, and the Plaintiff shall be entitled upon motion, to the
issuance of a writ of execution;

f. That this Agreement is final and in case of violation, is


immediately executory; and

g. That the parties have mutually and voluntarily agreed to


abide by these stipulations after having read and under-
stood the contents thereof.

SIGNED by the parties on the date below.

______________________________ _______________________
______ Defendant
Plaintiff
Date: ______________
Represented by

______________________________ ___________________________
______ Defendant
Date: ______________
Date: ______________

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