Guam Code > Title 18 > Chapter 81 – Transfer of Obligations
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Terms Used In Guam Code > Title 18 > Chapter 81 - Transfer of Obligations
- Contract: A legal written agreement that becomes binding when signed.
- Grantor: The person who establishes a trust and places property into it.
- 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.
- Personal property: All property that is not real property.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.