THIRD DIVISION
[G.R. No. 205704. March 18, 2015.]
RELATED INVESTMENT AND DEVELOPMENT CORPORATION, petitioner,vs. BUENAVENTURA B. SUNGUAD, respondent.
NOTICE
Sirs/Mesdames :
Please take notice that the Court, Third Division, issued a Resolution dated March 18, 2015, which reads as follows:
"G.R. No. 205704 (Related Investment and Development Corporation vs. Buenaventura B. Sunguad). — Before this Court is a Compromise Agreement dated February 17, 2015 filed by both parties wherein they submitted their amicable settlement with terms and conditions to put an end to the controversy.
Finding the same to have been validly executed and not contrary to law, morals, good customs, public order and public policy, the Court approves the same.
"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. Such means of dispute settlement is an accepted, even desirable and encouraged, practice in courts of law and administrative tribunals." 1
WHEREFORE, in light of the foregoing, the Compromise Agreement dated February 17, 2015 is APPROVED and judgment is hereby rendered in accordance therewith. The instant case is accordingly DISMISSED."
Very truly yours,
(SGD.) WILFREDO V. LAPITANDivision Clerk of Court
Footnotes
1.Spouses Tankiang v. Hon. Judge Alaraz, et al., 608 Phil. 284, 295-296 (2009).