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Terms Used In 13 Guam Code Ann. § 8107

  • Contract: A legal written agreement that becomes binding when signed.
) Unless otherwise agreed, a person obligated to deliver securities may deliver a like number of units of any securities which by nature or usage of trade are the equivalent of the securities he is obligated to deliver.

(2) Where, pursuant to the contract to sell or a sale, a security has been delivered or tendered to the purchaser, and the purchaser wrongfully fails to pay for the security according to the terms of the contract or the sale, the seller may as an alternative to any other remedy recover the agreed price of the security. This subdivision does not affect the remedy of a seller if the security has not been delivered or tendered.
NOTE: (2003) The AOfficial@ Appendix I amends a § 8110 dealing with special applicability. No such section exists in the Guam UCC so the amendments will not be included by the Compiler.
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CHAPTER 2
ISSUE–ISSUER