22 Guam Code Ann. § 35120
Terms Used In 22 Guam Code Ann. § 35120
- Contract: A legal written agreement that becomes binding when signed.
- Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
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22 Guam Code Ann. BUSINESS REGULATIONS
CH. 35 ACCOUNTANCY
(b) This section governs any action based on negligence or breach of contract brought against any licensee, or any CPA firm practicing in Guam by any person or entity claiming to have been injured as a result of financial statements or other information examined, compiled, reviewed, certified, audited or otherwise reported or opined on by the defendant licensee as a result of an engagement to provide services.
(c) No action covered by this section may be brought unless the suit is commenced on or before the earlier of:
(1) One (1) year from the date the alleged act, omission or neglect is discovered or should have been discovered by the exercise of reasonable diligence;
(2) Three (3) years after completion of the service for which the suit is brought has been performed; or
(3) Three (3) years after the date of the initial issuance of the accountant=s report on the financial statements or other information.