This case has been cited 3 times or more.
|
2009-06-22 |
NACHURA, J. |
||||
| Under Article 1306 of the Civil Code of the Philippines, contracting parties may establish such stipulations, clauses, terms, and conditions, as they may deem convenient, provided that these are not contrary to law, morals, good customs, public order, or public policy. A compromise agreement is a contract whereby the parties make reciprocal concessions in order to resolve their differences, thereby putting an end to litigation.[8] Such means of dispute settlement is an accepted, even desirable and encouraged, practice in courts of law and administrative tribunals.[9] | |||||