18 Guam Code Ann. § 80405
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Terms Used In 18 Guam Code Ann. § 80405
- 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.
A condition sub-sequent is one referring to a future event, upon the happening of which the obligation becomes no longer binding upon the other party, if he chooses to avail himself of the condition.
SOURCE: CC § 1438.