18 Guam Code Ann. § 32304
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Terms Used In 18 Guam Code Ann. § 32304
- 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.
If a surety satisfied the principal obligation, or any part thereof, whether with or without legal proceedings, the principal is bound to reimburse what he has disbursed, including necessary costs and expenses; but the surety has no claim for reimbursement against other persons, though they may have been benefited by his act, except as prescribed by the next section.
SOURCE: CC § 2847.
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18 Guam Code Ann. BUSINESS STRUCTURE & FUNCTION
CH. 32 SURETYSHIP