60 chapters · 1,417 sections in this title.
18 GCA § 21101 Authority from Seller
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An auctioneer, in the absence of special authorization or usage to the contrary, has authority from the seller, only as follows: 1. To sell by public auction to the highest bidder; 2. To sell for cash only, except such articles as are usually sold on credit at auction; 3. To warr…
18 GCA § 21102 Authority from Bidder
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An auctioneer has authority from a bidder at the auction, as well as from the seller, to bind both by a memorandum of the contract, as described in the Uniform Commercial Code [Title 14, GCA]. COL120106 CH.21 PARTICULAR AGENCIES SOURCE: CC § 2363. NOTE: Guam adopted the UCC, and …
18 GCA § 21201 What is a Factor
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A factor is an agent, as defined by 18 GCA '56301. SOURCE: CC § 2367.
18 GCA § 21202 Actual Authority of Factor
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In addition to the authority of agents in general, a factor has actual authority from his principal, unless specially restricted: 1. To insure property consigned to him uninsured; 2. To sell, on credit, anything entrusted to him for sale, except such things as it is contrary to u…