Simple Contract

{Name}, known as “First Party,” agrees to enter into this contract with {Name},
known as “Second Party” on {date}.

This agreement is based on the following provisions:

Law on Contract under the Civil Code of the Philippines.

Furthermore, the First Party and Second Party agrees:

That the first party, being the financer who purchased the vehicle with the
following description:

MAKE & TYPE : ___________

SERIES : ___________
ENGINE NO. : ___________
CHASSIS NO. : ___________
MV FILE NO. : ___________
OFFICIAL RECEIPT : ___________
CERTIFICATE OF REGISTRATION: ___________

The first party has all the rights on the said vehicle and the second Party agrees.

The second party has no right to get the said vehicle because the second party’s
name was only used by the first party so that he can purchase the subject car for
lease.

The second party has not used any single centavo of money in purchasing the
said subject vehicle and he therefore agrees to the conditions set forth in this
contract.

That the first party is the sole owner of the said subject vehicle as it was under
his full control and possession.

That in case the said vehicle caused a vehicular accident, only the first party will
be liable to any person.

Invalidity or unenforceability of one or more provisions of this agreement shall not

affect any other provision of this agreement.

This agreement is subject to the laws and regulations of the Philippine law.

Signed:

___________________________ __________________________
{First Party Name} {First Party Signature}

___________________________ __________________________
{Second Party Name} {Second Party Signature}