7 Guam Code Ann. § 23138
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Terms Used In 7 Guam Code Ann. § 23138
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Testify: Answer questions in court.
- Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
When objection is made to the undertaking upon the ground that the estimated value of the property claimed, as stated in the undertaking, is less than the market value of the property claimed, the person, corporation, partnership or association may accept the estimated value stated by the judgment creditor in said objection, and a new undertaking may be at once filed with the judgment creditor’s estimate stated therein as the estimated value and no objection shall thereafter be made upon that ground; if the judgment creditor’s estimate of the market value is not
accepted, the person, corporation, partnership or association giving the undertaking shall move the court in which the execution issued, upon ten days’ notice to the judgment creditor, to estimate the market value of the property claimed and described in the undertaking, and upon the hearing of such motion witnesses may be required to attend and testify, and evidence be produced in the same manner as in the trial of civil actions. Upon the hearing of such motion, the court shall estimate the market value of the property described in the undertaking, and if the estimated value made by the court exceeds the estimated value as stated in the undertaking, a new undertaking shall be filed and served, with the market value determined by the court stated therein as the estimated value.
accepted, the person, corporation, partnership or association giving the undertaking shall move the court in which the execution issued, upon ten days’ notice to the judgment creditor, to estimate the market value of the property claimed and described in the undertaking, and upon the hearing of such motion witnesses may be required to attend and testify, and evidence be produced in the same manner as in the trial of civil actions. Upon the hearing of such motion, the court shall estimate the market value of the property described in the undertaking, and if the estimated value made by the court exceeds the estimated value as stated in the undertaking, a new undertaking shall be filed and served, with the market value determined by the court stated therein as the estimated value.
SOURCE: CCP § 712a.
NOTE: Guam CCP § 713, Requisites of Undertaking, is omitted by Compiler. This Section is identical to Calif. § 713. However, Guam does not have in the Code of Civil Procedure any § 1057 to which both the California and Guam sections refer. Other than referring to the nonexistent CCP § 1057, there is nothing of substance in § 713.