18 Guam Code Ann. § 82504
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Terms Used In 18 Guam Code Ann. § 82504
- 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.
When the obligation of a third person, or an order upon such person, is accepted in satisfaction, the creditor may rescind such acceptance if the debtor prevents such person from complying with the order, or from fulfilling the obligation, or if, at the time the obligation or order is received, such person is insolvent, and this fact is unknown to the creditor, or if, before the creditor can with reasonable diligence present the order to the person upon whom it is given, he becomes insolvent.
SOURCE: CC § 1533.
NOTE: No 1970 Civil Code Ԥ 1534-1540 existed.
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