18 Guam Code Ann. § 80302
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Terms Used In 18 Guam Code Ann. § 80302
- 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 imposed upon several persons, or a right created in favor of several persons, is presumed to be joint, and not several, except in the special cases mentioned in Division II of this Title on the interpretation of contracts. This presumption, in the case of a right, can be overcome only by express words to the contrary.
SOURCE: CC § 1431.
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18 Guam Code Ann. BUSINESS STRUCTURE & FUNCTION
CH. 80 OBLIGATIONS
COURT CASES: The statement that the right of first refusal was a “collective right” and not an individual right was insufficient to overcome the presumption created by § 80102 that the right of first refusal possessed by former shareholders was joint and not several. Ulloa v. GEDA, 580 F.2d 952, (CA9 1978).