18 Guam Code Ann. § 82216
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Terms Used In 18 Guam Code Ann. § 82216
- 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.
An obligation for the payment of money is extinguished by a due offer of payment, if the amount is immediately deposited in the name of the creditor, with any bank licensed to do business in Guam and notice thereof is given to the creditor.
SOURCE: CC § 1500.
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18 Guam Code Ann. BUSINESS STRUCTURE & FUNCTION
CH. 82 OBLIGATIONS EXTINGUISHED