{"id":252001,"date":"2025-05-22T12:02:16","date_gmt":"2025-05-22T12:02:16","guid":{"rendered":"https:\/\/peraltafinancing.com\/business\/legal\/compromise-agreement\/"},"modified":"2025-05-22T12:02:16","modified_gmt":"2025-05-22T12:02:16","slug":"compromise-agreement","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=252001","title":{"rendered":"Compromise Agreement"},"content":{"rendered":"


\n<\/p>\n

\n
\nThis
\nis only a sample<\/u> of COMPROMISE AGREEMENT format.  It could be subject to modifications to suit
\nthe purpose\/s of its execution and requirements of the parties.  It is advisable that before an execution of
\nany legal document, one must seek legal advice or assistance from a Lawyer. <\/span><\/b><\/div>\n
\n<\/div>\n
\nLegal Notes:<\/span><\/u><\/i><\/b><\/div>\n
\nA compromise is a
\ncontract whereby the parties, by making reciprocal concessions, avoid a
\nlitigation or put an end to one already commenced. (Article 2028, Civil Code of
\nthe Philippines)<\/span><\/b><\/div>\n
\n<\/div>\n
\n<\/div>\n
\n<\/div>\n
\n<\/div>\n
\nREPUBLIC OF THE PHILIPPINES<\/span><\/b><\/div>\n
\nNATIONAL CAPITAL
\nJUDICIAL REGION<\/span><\/b><\/div>\n
\nREGIONAL TRIAL COURT<\/span><\/b><\/div>\n
\nBranch 143, City of
\nManila <\/span><\/b><\/div>\n
\n<\/div>\n
\n<\/div>\n
\nILOVEFIL INC.<\/span><\/b><\/div>\n
\n                                      Plaintiff;<\/span><\/b><\/div>\n
\n<\/div>\n
\n-versus-                                                     CIVIL CASE NO. 13-122870<\/span><\/b><\/div>\n
\n                                                                    For Sum of Money<\/span><\/b><\/div>\n
\n<\/div>\n
\nDIWATA ACOH<\/span><\/b><\/div>\n
\n                                      Defendant.
\n<\/span><\/b><\/div>\n
\nx————————————-x<\/span><\/b><\/div>\n
\n<\/div>\n
\n<\/div>\n
\n<\/div>\n
\nCOMPROMISE AGREEMENT<\/span><\/u><\/strong><\/div>\n
\n
\n<\/span><\/u><\/b> <\/span><\/div>\n
\nKNOW ALL MEN BY THESE PRESENTS:<\/span><\/b><\/div>\n
\n<\/div>\n
\nThis Compromise of Agreement<\/b> is executed
\nthis 14th<\/sup> day of February 2015  
\nin City of Manila, by and between:<\/span><\/div>\n
\n<\/div>\n
\n<\/div>\n
\nILOVEFIL INC. (ILOVEFIL)<\/span><\/b>, is a domestic corporation registered with Securities and Exchange
\nCommission, and with principal office address at 111 Mabuhay Avenue, Barangay
\n123, City of Manila, represented by ATTY.
\nBINIBINI C. MAGANDA<\/u><\/b> Head, Legal Department pursuant to the resolution
\nissued by its Board of Directors dated 24 October 2014, (copy of which is
\nhereto attached as Annex \u201cA<\/b>\u201d and
\nmade an integral part of this Compromise Agreement), and hereinafter referred
\nto as the \u201cFIRST PARTY\u201d;<\/b> <\/span><\/div>\n
\n<\/div>\n
\nand<\/span><\/div>\n
\n<\/div>\n
\nDIWATA B. ACOH,<\/span><\/b> of legal age, married, with residence and postal address at No. 118 Diamond
\nRoad, Global City hereinafter referred to as the \u201cSECOND PARTY<\/b>\u201d;<\/span><\/div>\n
\n<\/div>\n
\n<\/div>\n
\n WITNESSETH: THAT<\/span><\/b><\/div>\n
\n<\/div>\n
\nWHEREAS<\/span><\/b>, the FIRST PARTY<\/b> is the Plaintiff in Civil
\nCase No. 13-122870<\/b>, entitled “ILOVEFIL, INC. versus DIWATA B. ACOH\u201d, <\/span><\/b><\/span>pending in the Regional Trial Court
\nof City of Manila, Branch 143, 
\nhereinafter referred to as the “Pending Case”;<\/span><\/span><\/b><\/div>\n
\nWHEREAS<\/span><\/b>, all the parties are desirous of settling amicably
\nthe Pending Case in order to avoid inconvenience and costly litigation;<\/span><\/span><\/div>\n
\nNOW, THEREFORE<\/span><\/b>, in consideration of the foregoing premises, the
\nparties hereby undertake as follows:<\/span><\/span><\/div>\n
\n1.      <\/span>The SECOND PARTY<\/b> shall pay the FIRST PARTY<\/b> the unpaid balance of the
\nLoan amounting to Eight Hundred Eight  Thousand Pesos (Php808,000.00)<\/b> and the
\ninterest amounting to Two Hundred Two Thousand Pesos (P202,000.00)<\/b>, or the aggregate amount of One Million Ten Thousand Pesos
\n(P1,010,000.00)<\/b>;<\/span><\/div>\n
\n<\/div>\n
\n2.      <\/span>The SECOND PARTY<\/b> shall deliver on or before
\n30 March 2015<\/b> to the FIRST PARTY<\/b> the Ten (10) post dated
\nchecks (PDCs) in the amount of <\/span>\u20b1<\/span><\/b>101,000.00 <\/span><\/b>each, <\/b>payable
\nto the FIRST PARTY (ILOVEFIL, INC)<\/b>.  Each check must be dated every 30th<\/sup>
\nday of the month beginning 30 March 2015 and the succeeding 9 months
\nthereafter;<\/span><\/div>\n
\n<\/div>\n
\n3.      In case of delay and\/or
\ndefault in funding the check on said dates, the whole obligation becomes due
\nand demandable without further notice from the FIRST PARTY<\/b>;  <\/span><\/div>\n
\n<\/div>\n
\n4.      All other claims and
\ncounterclaims not included in this Agreement shall be deemed waived; <\/b><\/span><\/div>\n
\n<\/div>\n
\n5.      This agreement shall not in
\nany way be construed as an admission on the part of any party of any fault,
\nnegligence or liability, of whatever kind and nature, in connection with the
\nPending Case; and<\/span><\/div>\n
\n<\/div>\n
\n6.      In case of material breach
\nof the terms and conditions of this agreement, the innocent party is hereby
\nauthorized to apply for a Writ of Execution in the Pending Case for the purpose
\nof compelling compliance with the terms and conditions of this agreement.<\/span><\/div>\n
\n<\/div>\n
\nIN WITNESS WHEREOF<\/span><\/b>, the parties have hereunto set their hand at the place and on the date
\nwritten above. <\/span><\/span><\/div>\n

<\/p>\n

\nFirst Party<\/span><\/span><\/div>\n
\nILOVEFIL, INC<\/span><\/span><\/b><\/div>\n
\n<\/div>\n
\nby: <\/span><\/b><\/span><\/div>\n
\n<\/div>\n
\n<\/div>\n
\n____________________________<\/span><\/b><\/span><\/div>\n
\nATTY. BINIBINI C. MAGANDA<\/span><\/span><\/b><\/div>\n
\n<\/div>\n
\nSecond Party<\/span><\/span><\/div>\n
\n<\/div>\n
\n<\/div>\n
\n______________________<\/span><\/b><\/span><\/div>\n
\nDIWATA B. ACOH<\/span><\/b><\/span><\/div>\n
\n<\/div>\n
\nWitnessed By:<\/span><\/div>\n
\n<\/div>\n
\n<\/div>\n
\n__________________________   __________________________<\/span><\/span><\/div>\n
\n<\/div>\n
\n<\/div>\n
\nACKNOWLEDGEMENT<\/span><\/strong><\/span><\/div>\n

\nBEFORE ME<\/span><\/b>, a Notary Public for and in City of Manila, personally appeared the
\nfollowing and presented their Government Identification Cards:<\/span><\/p>\n

\n1.          
\n<\/span><\/span><\/b>ATTY. BINIBINI C. MAGANDA<\/span><\/b><\/div>\n
\nLTO Driver\u2019s
\nLicense ID No. N02-18-073109<\/span><\/div>\n
\nQuezon
\nCity<\/span><\/div>\n
\nValid
\nuntil 12\/28\/2016<\/span><\/div>\n
\n<\/div>\n
\n2.          
\n<\/span><\/span><\/b>DIWATA B. ACOH<\/span><\/b><\/span><\/b><\/div>\n
\nDriver\u2019s
\nLicense ID No. N02-09-123456<\/span><\/div>\n
\nQuezon
\nCity<\/span><\/div>\n
\nValid
\nuntil 11\/13\/2015<\/span><\/div>\n
\n<\/div>\n
\n<\/div>\n
\n<\/div>\n
\nand they acknowledged to me that they are the same persons who executed
\nthe foregoing instrument, consisting of 4<\/u><\/b>
\npages, including this page; that ATTY. BINIBINI
\nC MAGANDA<\/b> is duly authorized to appear in behalf of ILOVEFIL, INC and DIWATA B ACOH<\/b>, in his personal capacity
\nas Defendant in the aforecited case; and that they executed the foregoing
\ninstrument as their own free and voluntary act and deed, in behalf of the said
\nPrincipal and for herself, respectively.<\/span><\/div>\n
\n<\/div>\n
\n<\/div>\n
\n                                                                   NOTARY PUBLIC<\/b><\/span><\/div>\n
\n<\/div>\n
\n          <\/span><\/div>\n
\nDoc. No.
\n____;
\nPage No. ____;
\nBook No. ____;
\nSeries of 2015.<\/span><\/div>\n

<\/p>\n

\n<\/div>\n<\/div>\n\n","protected":false},"excerpt":{"rendered":"

This is only a sample of COMPROMISE AGREEMENT format.  It could be subject to modifications to suit the purpose\/s of its execution and requirements of the parties.  It is advisable that before an execution of any legal document, one must seek legal advice or assistance from a Lawyer. Legal Notes: A compromise is a contract […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[97],"tags":[14456,11016],"dealstore":[],"offerexpiration":[],"class_list":["post-252001","post","type-post","status-publish","format-standard","hentry","category-legal","tag-agreement","tag-compromise"],"yoast_head":"\nCompromise Agreement - Som2ny Network<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fivemor.com\/?p=252001\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Compromise Agreement - Som2ny Network\" \/>\n<meta property=\"og:description\" content=\"This is only a sample of COMPROMISE AGREEMENT format.  It could be subject to modifications to suit the purpose\/s of its execution and requirements of the parties.  It is advisable that before an execution of any legal document, one must seek legal advice or assistance from a Lawyer. 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