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Compromise Agreement: of The Philippines vs. - "

1) The document is a compromise agreement between two parties - a first party and a second party. The second party had taken out a loan from the first party but failed to repay it, bouncing several checks. 2) To settle the civil aspect of the criminal case filed by the first party against the second party for bouncing checks, the second party agrees to pay the first party PHP 300,000 in installments. 3) Upon full payment, the criminal case will be dismissed and the original bounced checks returned to the second party, settling the matter between the parties.

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4K views3 pages

Compromise Agreement: of The Philippines vs. - "

1) The document is a compromise agreement between two parties - a first party and a second party. The second party had taken out a loan from the first party but failed to repay it, bouncing several checks. 2) To settle the civil aspect of the criminal case filed by the first party against the second party for bouncing checks, the second party agrees to pay the first party PHP 300,000 in installments. 3) Upon full payment, the criminal case will be dismissed and the original bounced checks returned to the second party, settling the matter between the parties.

Uploaded by

alaricelyang
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

KNOW ALL MEN BY THESE PRESENTS:

This Compromise Agreement is made and executed this ____


2006 __________________ in Las Piñas City, Metro Manila, Philippines, by
and between:

__________________________, Filipino, of legal age with


residence address at
___________________________________________________,
(hereinafter referred to as the “First Party”)

-and-

_________________________, Filipino, of legal age with


residence address
____________________________________________________________
(hereinafter referred to as the “Second Party”);

WITNESSETH that

WHEREAS, sometime in January 2001, the First Party extended


to the Second Party a loan, which was covered by four (4) post-dated
Philippine National Bank checks;

WHEREAS, when the First Party deposited said post-dated


checks as they became due, all were dishonored by reason of “Account
Closed”; hence, the loan extended to the Second Party remained
unpaid;

WHEREAS, a case for violation of B.P. 22 otherwise known as


“Anti-Bouncing Check Law” was filed by the First Party against the
Second Party with the Metropolitan Trial Court of Las Piñas City
designated as Criminal Case Nos. _________ to _______ entitled “People
of the Philippines vs. _________________”;

WHEREAS, in order to keep the peace between the parties, the


First Party and Second Party hereby agree to amicably settle the civil
aspect of said Criminal Case Nos. _________ to _______ by way of this
Compromise Agreement.

NOW, THEREFORE, for and in consideration of the foregoing


premises and of the mutual covenants and stipulations hereinafter set
forth, the parties hereby agree as follows:

1. The Accused hereby agrees to pay the First Party the total
amount of Three Hundred Thousand Pesos (P300,000.00) as full
and final settlement of the civil aspect of the instant case, which shall
be paid in installment basis as follows:

1.1 Thirty Five Thousand Pesos (P35,000.00) to be


paid on or before 05 June 2006; and

1
1.2 After 05 June 2006, Five Thousand Pesos
(P5,000.00) to be paid every 5th day of the succeeding
months until the amount of Three Hundred Thousand Pesos
(P300,000.00) is fully paid and settled.

2. That in case Second Party defaults in paying to the First


Party any of the installment payments as provided under paragraph
1.2, the Second Party shall be given by the First Party a grace period of
Ten (10) days to make good the said defaulting installment payment,
otherwise the whole of the remaining settlement amount shall
immediately be due and demandable.

3. The First Party and the Second Party agrees that the
instant case be permanently dismissed by virtue of the execution of
the First Party of an affidavit of desistance with withdrawal of
testimony/evidence and file the same with the Honorable Court.

4. Upon full payment of the total settlement amount, the First


Party agrees to return the original copy of the checks pertinent to the
above-captioned case to the Second Party simultaneously with the
receipt of the last payment.

5. In case the Second Party fails to comply with any of the


terms and conditions of this agreement, the First Party shall
unconditionally be entitled to secure a write of execution to enforce the
implementation of this Compromise Agreement.

IN WITNESS WHEREOF, the parties have affixed their


signatures hereto on the date and at the place first written above.

(First Party) (Second Party)

SIGNED IN THE PRESENCE OF

____________________________ ____________________________

2
REPUBLIC OF THE PHILIPPINES )
_____________________, METRO MANILA) S.S.

ACKNOWLEDGEMENT

BEFORE ME, this ________________________ in


________________________ personally appeared the following and
exhibited to me their Community Tax Certificate Nos. as follows:

Proof of
Name Identificatio Date/Place of
n Issue

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


the foregoing instrument and acknowledged to me that the same is
their voluntary act and deed.

This Compromise Agreement consists of three (3) pages,


including the page on which this Acknowledgment is written, which is
signed by the parties and their instrumental witness on each and every
page hereof.

WITNESS my hand and seal at the date and place above-written.

Doc No. ;
Page No. ;
Book No. ;
Series of 2006.

A.3.66/COMPROMISE AGREEMENT/RJR BOX/ADN

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