18 Guam Code Ann. § 82402
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Terms Used In 18 Guam Code Ann. § 82402
- 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.
Though the parties to an accord are bound to execute it, yet it does not extinguish the obligation until it is duly executed.
SOURCE: CC § 1522.