18 Guam Code Ann. § 31204
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Terms Used In 18 Guam Code Ann. § 31204
- Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. Source: OCC
A mere offer to guarantee is not binding, until notice of its acceptance is communicated by the guarantee to the guarantor; but an absolute guaranty is binding upon the guarantor without notice of acceptance.
SOURCE: CC § 2795.
NOTE: No 1970 Civil Code Ԥ 2796-2798 existed.
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ARTICLE 3
INTERPRETATION OF GUARANTY