18 Guam Code Ann. § 80501
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Terms Used In 18 Guam Code Ann. § 80501
- 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.
If an obligation requires the performance of one of two acts, in the alternative, the party required to perform has the right of selection, unless it is otherwise provided by the terms of the obligation.
SOURCE: CC § 1448.