18 Guam Code Ann. § 82401
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Terms Used In 18 Guam Code Ann. § 82401
- 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 accord is an agreement to accept, in extinction of an obligation, something different from or less than that to which the person agreeing to accept is entitled.
SOURCE: CC § 1521.