18 Guam Code Ann. § 81101
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Terms Used In 18 Guam Code Ann. § 81101
- 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.
The burden of an obligation may be transferred with the consent of the party entitled to its benefit, but not otherwise, except as provided in § 81110 of this Chapter.
SOURCE: CC § 1457.