18 Guam Code Ann. § 82601
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Terms Used In 18 Guam Code Ann. § 82601
- 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 is extinguished by a release therefrom given to the debtor by the creditor, upon a new consideration, or in writing, with or without new consideration.
SOURCE: CC § 1541.
CROSS-REFERENCES: For regulation of release in the case of joint tortfeasors, see
7 Guam Code Ann. ‘24605.