18 Guam Code Ann. § 80102
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Terms Used In 18 Guam Code Ann. § 80102
- Contract: A legal written agreement that becomes binding when signed.
- 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.
An obligation arises either from:
1. The contract of the parties; or
2. The operation of law.
An obligation arising from operation of law may be enforced in the manner provided by law, or by civil action or proceeding.
SOURCE: CC § 1428.
ARTICLE 2
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18 Guam Code Ann. BUSINESS STRUCTURE & FUNCTION
CH. 80 OBLIGATIONS
GENERAL RULES OF INTERPRETATION