7 Guam Code Ann. § 50451
Attorney's Note
Under the Guam Code, punishments for crimes depend on the classification. In the case of this section:| Class | Prison | Fine |
|---|---|---|
| misdemeanor | up to 1 year | up to $1,000 |
Terms Used In 7 Guam Code Ann. § 50451
- 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.
- Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
- Fraud: Intentional deception resulting in injury to another.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Oath: A promise to tell the truth.
- 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.
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1. If the debtor shall have sworn falsely in the affidavit annexed to his petition, schedule, or inventory, or upon any examination in the course of the proceedings in insolvency, in relation to any material fact concerning his estate or his debts or to any other material fact; or
2. If he has concealed any part of his estate or effects, or any books or writing relating thereto; or
3. If he has been guilty of fraud or willful neglect in the care or custody of his property or in the delivery to the assignee of the property belonging to him at the time of the presentation of his petition and inventory, excepting such property as he is permitted to retain under the provisions of this Chapter; or
4. If, within one (1) month before the commencement of such proceedings, he has procured his real estate, goods, moneys, or chattels to be attached or seized on execution; or
5. If he has destroyed, mutilated, altered, or falsified any of his books, documents, papers, writings, or securities, or has made, or been privy to the making of, any false or fraudulent entry in any book of account or other document with intent to defraud his creditors; or
6. If he has given any fraudulent preference, contrary to the provisions of this Title, or has made any fraudulent payment, gift, transfer, conveyance, or assignment of any part of his property, or has admitted a false or fictitious debt against his estate; or
7. If, having knowledge that any person has proven such false or fictitious debt, he has not disclosed the same to his assignee within one (1) month after such knowledge; or
8. If, being a merchant or tradesman, he has not kept proper books of account in Arabic numerals and in accordance with the provisions of law; or
9. If he, or any other person on his account, or in his behalf, has influenced the action of any creditor, at any stage of the proceedings, by any pecuniary consideration or obligation; or
10. If he has, in contemplation of becoming insolvent, made any pledge, payment, transfer, assignment, or conveyance of any part of his property, directly or indirectly, absolutely or conditionally, for the purpose of preferring any creditor or person having a claim against him, or who is, or may be, under liability for him, or for the purpose of
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7 Guam Code Ann. CIVIL PROCEDURE
CH. 50 INSOLVENCY LAW
preventing the property from coming into the hands of the assignee, or of being distributed under this Title in satisfaction of his debts; or
11. If he has been convicted of any misdemeanor under this Title, or has been guilty of fraud, contrary to the true intent of this Title; or
12. In case of voluntary insolvency, has received the benefit of this or any other law of insolvency or bankruptcy within six (6) years next preceding his application for discharge; or
13. If insolvency proceedings in which he could have applied for a discharge are pending by or against him in the court. Before any discharge is granted, the debtor shall take and subscribe an oath to the effect that he has not done, suffered, or been privy to any act, matter, or thing specified in this Chapter as grounds for withholding such discharge or as invalidating such discharge, if granted.
SOURCE: CCP § 1365.