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    COMPROMISE AGREEMENT Vehicle Accident

    Uploaded by

    Yves
    The document is a compromise agreement between two parties regarding a vehicular accident. It details that Party 1's vehicle was damaged in the accident with Party 2. Party 2 offered PHP 4,500 to compensate for the damages, which Party 1 accepted, releasing Party 2 from all liability.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd

    COMPROMISE AGREEMENT Vehicle Accident

    Uploaded by

    Yves
    2K views2 pages
    The document is a compromise agreement between two parties regarding a vehicular accident. It details that Party 1's vehicle was damaged in the accident with Party 2. Party 2 offered PHP 4,500 to compensate for the damages, which Party 1 accepted, releasing Party 2 from all liability.

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    © © All Rights Reserved

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    DOCX, PDF, TXT or read online from Scribd

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    The document is a compromise agreement between two parties regarding a vehicular accident. It details that Party 1's vehicle was damaged in the accident with Party 2. Party 2 offered PHP 4,500 to compensate for the damages, which Party 1 accepted, releasing Party 2 from all liability.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    2K views2 pages

    COMPROMISE AGREEMENT Vehicle Accident

    Uploaded by

    Yves
    The document is a compromise agreement between two parties regarding a vehicular accident. It details that Party 1's vehicle was damaged in the accident with Party 2. Party 2 offered PHP 4,500 to compensate for the damages, which Party 1 accepted, releasing Party 2 from all liability.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 2

    COMPROMISE AGREEMENT

    KNOW ALL MEN BY THESE PRESENTS:

    This Compromise Agreement entered by and between:

    ________________, of legal age, married, Filipino, and with residential address at


    __________________, hereinafter referred to as the FIRST PARTY;

    - and -

    _____________________, of legal age, married, Filipino, and with residential


    address at _______________, hereinafter referred to as the SECOND PARTY;

    WITNESSETH, that:

    WHEREAS, on or about _________ p.m. of December 15, 2018, the herein


    parties figured in a vehicular accident somewhere in Basak, Lapu-Lapu City;

    WHEREAS, as a result of the said accident, the FIRST PARTY’s Mitsubishi


    Montero Sport Vehicle with plate number __________ suffered minor damage on the
    driver’s side door;

    WHEREAS, the SECOND PARTY offered to pay for a compensation of FOUR


    THOUSAND FIVE HUNDRED PESOS, Phlippine Currency, (Php 4,500.00), for the said
    damage;

    WHEREAS, the FIRST PARTY has accepted the SECOND PARTY’s offer;

    NOW THEREFORE, for and in consideration of the amount of FOUR


    THOUSAND FIVE HUNDRED PESOS, Philippine Currency, (Php 4,500.00), in cash,
    and hand received by the FIRST PARTY to his full and complete satisfaction, the
    FIRST PARTY hereby absolutely releases, completely clear, and forever discharge
    the SECOND PARTY from any action, cause of action, sum of money, liability,
    damages, claims and demands whatsoever, which in law or in equity he may have,
    or which he, his heirs, insurer, successors and assigns hereafter may have upon or
    by reason of the damage sustained by his motor vehicle with plate no. ___________
    arising from the accident which happened on December 15, 2018, with the intention
    to completely and absolutely waive all his right of action, causes of action, claims
    and demands, of whatever nature, arising from, or in connection with the
    aforemention incident.

    The FIRST PARTY further warrants that he will institute no further action
    against the SECOND PARTY arising from, by reason of, or in connection with the
    aforementioned incident.

    The FIRST PARTY also manifests that the said payment / settlement made by
    the SECOND PARTY shall not be taken as a confession and/or admission of liability
    on the part of the SECOND PARTY in connection with the aforementioned incident.

    IN WITNESS WHEREOF, we have hereunto set our and this ________________ at


    Lapu-Lapu City, Philippines.
     
    ___________________
    FIRST PARTY

    ___________________________
    SECOND PARTY
    WITNESSES:

    __________________________ _________________________

    ACKNOWLEDGMENT

    Republic of the Philippines )


    City of Lapu-Lapu )s.s

    BEFORE ME , at the place above written and on ______________________,


    personally appeared the following showing to me their Competent Evidences of
    Identity (CEI’s ) with circumstances indicated , hereunder:

    NAME COMEPTENT EVIDENCE OF EXPIRY


    IDENTITY

    known to me to me the same persons , who executed the foregoing document and
    acknowledge to me that the same is their free and voluntary act and deed and those
    represented

    This document , pertaining to a Compromise Agreement consists of ______ (__) pages,


    including this page, and is signed by the parties and their witnesses on each and
    every page and on the left margin , thereof.

    WITNESS MY HANDS AND SEAL , on the date and place above written

    Doc No. ____;


    Page No. ___;
    Book No. ___;
    Series of 2018.

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