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Compromise Agreement

The document is a compromise agreement between Pedro Penduko and Enteng Kabisote to settle their legal disputes. It states that Penduko will be paid P4 million total by Kabisote to dismiss all claims, with P2 million paid initially and the remaining P2 million in two installments. The payments will be made through their lawyers and held in trust. Upon the initial payment, both parties will request the court to approve the agreement and lift any lis pendens orders on the disputed property. The agreement resolves all claims between the parties regarding the current and any other previous legal actions.

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215 views

Compromise Agreement

The document is a compromise agreement between Pedro Penduko and Enteng Kabisote to settle their legal disputes. It states that Penduko will be paid P4 million total by Kabisote to dismiss all claims, with P2 million paid initially and the remaining P2 million in two installments. The payments will be made through their lawyers and held in trust. Upon the initial payment, both parties will request the court to approve the agreement and lift any lis pendens orders on the disputed property. The agreement resolves all claims between the parties regarding the current and any other previous legal actions.

Uploaded by

meldgyrie mae andales
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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SAMPLE 1

COMPROMISE AGREEMENT

      This Agreement executed this 31st day of October, 2013 at


Makati, Metro Manila, by and between:

      PEDRO PENDUKO, Filipino, of legal age with address at 222 Montclair


Street, Merville Park, Parañaque, Metro Manila, represented herein by Atty.
Juan Dela Cruz (hereinafter referred to as “the plaintiff”).

-and-

      ENTENG KABISOTE, Filipino, of legal age with address at No. 11 Gold


Loop Street, Ortigas Center, Pasig, Metro Manila, represented herein by Atty.
Maria Makiling (hereinafter referred to as “the defendant”).

WITNESSETH:  That -

      WHEREAS, the plaintiff PENDUKO and defendant KABISOTE have


instituted several actions against each other in the past.

     WHEREAS, the plaintiff PENDUKO instituted the present action for


reconveyance of real property, annulment of deed of sale and accounting of
income of property.

       WHEREAS, the parties desire to buy peace and wish to avoid a


protracted litigation in this case.

     NOW THEREFORE, in consideration of the foregoing and the


further covenants hereinafter set forth, the parties agree as follows:

      1.  Plaintiff shall be paid the sum of FOUR MILLION PESOS


(P4,000,000.00) in accordance with the following schedule:

     a. Initial payment - TWO MILLION PESOS (P2,000,000.00) shall be paid


to the plaintiff by defendant KABISOTE upon the signing and due execution
of this Compromise Agreement, Provided, however, that the initial payment
by defendant KABISOTE shall be delivered into the custody and possession
of a third party, Atty. Maria Mercedes, who shall act as escrow-trustee of the
parties and who shall only deliver the said initial payment to the plaintiff
through plaintiff’s counsel upon the filing in Court of this Compromise
Agreement.
     b. The balance of TWO MILLION PESOS (P1,000,000.00) shall be paid by
defendant Kabisote as follows:

Second payment - ONE MILLION PESOS (P1,000,000.00)  within sixty (60)


days after the date of the first payment.

Third payment - ONE MILLION PESOS (P1,000,000.00) within forty-five (45)


days after the date of the second payment.

     2. The initial payment by defendant KABISOTE shall be made in cash.


The two payments on the balance shall be covered by post-dated checks
drawn by defendant KABISOTE as payable to ATTY. JUAN DELA CRUZ who
shall hold and account for said payments in trust for plaintiff PENDUKO.

     3. This Compromise Agreement shall not affect nor prejudice any case or
cases between the parties not specifically referred to herein.

      4. Upon delivery of the initial payment made by defendant KABISOTE


and delivered to the escrow-trustee of the parties, the parties shall seek
Court approval of this Compromise Agreement and the cancellation or lifting
of the notice of lis pendens issued by the Court over the property subject of
the action.

       5. The signatories to this Agreement hereby represent and warrant that


they are duly authorized to execute this Agreement.

      6. The parties or their assigns hereby waive, renounce and forever


quitclaim all their respective claims and counterclaims subject of the instant
action as well as those that may arise therefrom, in connection therewith or
in relation thereto.

      7. The foregoing covenants are not contrary to law, morals, or public


policy and the parties bind themselves to comply strictly with their
undertakings.

IN WITNESS WHEREOF, parties herein affixed their signatures on


the date and place above written.

                    _________________________                              
_________________________
                   Plaintiff                             Defendant
               
                                                
Signed in the presence of:
SAMPLE 2

COMPROMISE AGREEMENT
We, Complainant _____________, and the Respondent _____________,
hereby enter into this Compromise Agreement / Settlement of Any and All
Claims, and by virtue thereof manifest as follows:
That Complainant _____________, by these presents, and for and in
consideration of the total amount of __________________________
(P_____________), which he acknowledged to have received to his full and
complete satisfaction from the Respondent _____________, hereby declares
that he has no further claims whatsoever against the Respondent
_____________ or any of its managers, staff, directors or officers and that
he hereby releases and forever discharges the said Respondent from any
and all claims, demands, cause of action, or liability of whatever nature
arising out of his employment with the said Respondent;

That Complainant _____________ further manifests that the


aforementioned amount that he received from Respondent _____________
shall be in full and final settlement of all his claims and benefits from the
said Respondent, including those treated in the above-captioned case and
that the payment so received as provided herein should not in any way be
construed as an admission of liability on the part of Respondent
_____________;

That this Compromise Agreement / Settlement of Any and All Claims


constitutes a Release, Waiver and Quitclaim and that no further claim, suit
or proceeding of whatever nature may be filed in any court or agency of the
government against the herein Respondent or any person acting in its
interest, since any and all claims in connection with the previous
employment of the said Complainant have been finally settled once and for
all.
As such, the parties hereto respectfully request the National Labor Relations
Commission to treat the above-captioned case as CLOSED and/or finally
DISMISSED with prejudice.

IN WITNESS WHEREOF, we have hereunto set our hands this


_____________ at _____________, Philippines, after the contents of
this Compromise Agreement / Settlement of Any and All Claims were read
and understood by me after they have been explained by the Administering
Officer.
COMPLAINANT RESPONDENT
SIGNED IN THE PRESENCE OF:

__________________ __________________

(ACKNOWLEDGMENT)

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