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Terms Used In 7 Guam Code Ann. § 50103

  • Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
  • Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Personal property: All property that is not real property.
The petition, schedule, and inventory must be verified by the affidavit of the petitioner, annexed thereto, and shall be in form substantially as follows:

“I, , do solemnly swear that the schedule and inventory now delivered by me contain a full, correct, and true discovery of all my debts and liabilities and of all goods, effects, estate, and property of whatever kind or class to me in any way belonging. The inventory also contains a full, true, and correct statement of all debts owing or due me, or to any person

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7 Guam Code Ann. CIVIL PROCEDURE
CH. 50 INSOLVENCY LAW

or persons in trust for me and of all securities and contracts whereby any money may hereafter become due or payable to me or by or through which any benefit or advantage whatever may accrue to me or to my use, or to any other person or persons in trust for me. The schedule contains a clear outline of the facts giving rise, or which might give rise, to any cause of action in my favor. I have no lands, money, stock, or estate, reversion, or expectancy, or property of any kind, except that set forth in said inventory. I have in no instance created or acknowledged a debt for a greater sum than I honestly and truly owe I have not, directly or indirectly, concealed, fraudulently sold, or otherwise fraudulently disposed of any part of my real or personal property, estate, effect, or rights of action, and I have not in any way compounded with any of my creditors in order to secure such creditors, or to receive or to accept any profit or advantage therefrom, or to defraud or deceive in any matter any creditor to whom I am indebted. So help me God.”

SOURCE: CCP § 1303.