13 Guam Code Ann. § 2511
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Terms Used In 13 Guam Code Ann. § 2511
- Legal tender: coins, dollar bills, or other currency issued by a government as official money. Source: U.S. Mint
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
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13 Guam Code Ann. UNIFORM COMMERCIAL CODE
DIV. 2 SALES
13 Guam Code Ann. UNIFORM COMMERCIAL CODE
DIV. 2 SALES
(1) Unless otherwise agreed tender of payment is a condition to the seller’s duty to tender and complete any delivery.
(2) Tender of payment is sufficient when made by any means or in any manner current in the ordinary course of business unless the seller demands payment in legal tender and gives any extension of time reason- ably necessary to procure it.
(3) Subject to the provisions of this code on the effect of an instrument on an obligation (Section 3802), payment by check is conditional and is defeated as between the parties by dishonor of the check on due presentment.