Terms Used In 20 Guam Code Ann. § 2211

  • Contract: A legal written agreement that becomes binding when signed.
  • Personal property: All property that is not real property.
The detriment caused by the breach of a buyer’s agreement to accept and pay for personal property, the title to which is not vested in him, is deemed to be:
(1) If the property has been resold, pursuant to ‘3049, the excess, if any, of the amount due from the buyer, under the contract, over the net proceeds of the resale;

or,

(2) If the property has not been resold in the manner prescribed by
‘3049, the excess, if any, of the amount due from the buyer, under the
contract, over the value to the seller, together with the excess, if any, or the expenses properly incurred in carrying the property to market, over those which would have been incurred for the carriage thereof, if the buyer had accepted it.

SOURCE: CC § 3311.

NOTE: CC § 3049, to which this section refers, was repealed by P.L. 13-150 in connection with the adoption of the UCC (Title 13 of this Code).