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Guam Statutes, Title 18

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Title 18, Business Structure and Function

60 chapters · 1,415 sections in this title.

All chapters in Title 181,415 Ch 17, Guam Uniform Limited Cooperative Ass…148 Ch 28, Guam Business Corporation Act148 Ch 56, Particular Employment64 Ch 36, Mortgages50 Ch 20, Agency in General48 Ch 85, Nature of a Contract47 Ch 25, Partnerships in General46 Ch 82, Obligations Extinguished44 Ch 15, Limited Liability Companies38 Ch 2, Formation of Corporations37 Ch 41, Deposit for Keeping35 Ch 3, Corporate Stock34 Ch 7, Foreign Corporations34 Ch 13, Nonprofit Cooperative Associations33

15 sections·Filtered byTitle 18✕Ch 32✕

18 GCA § 32101 Surety
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A surety is one who at the request of another, and for the purpose of securing to him a benefit, becomes responsible for the performance by the latter of some act in favor of a third person, or hypothecates property as security therefor. SOURCE: CC § 2831.
18 GCA § 32102 Apparent Principal may Show Himself to be Surety
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One who appears to be a principal, whether by the terms of a written instrument or otherwise, may show that he is in fact a surety, except as against persons who have acted on the faith of his apparent character of principal. SOURCE: CC § 2832. NOTE: No 1970 Civil Code '§ 2833-28…
18 GCA § 32201 Limit of Obligations
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A surety cannot be held beyond the express terms of his contract, and if such contract prescribes a penalty for its breach, he cannot in any case be liable for more than the penalty. SOURCE: CC § 2836.
18 GCA § 32202 Rules of Interpretation
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In interpreting the terms of a contract of suretyship, the same rules are to be observed as in the case of other contracts. SOURCE: CC § 2837.

18 GCA § 32203 Judgment Against Surety, Generally

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Notwithstanding the recovery of a judgment by a creditor against a surety, the latter still occupies the relation of surety. SOURCE: CC § 2838.

18 GCA § 32204 Offer of Performance, Generally

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Performance of the principal obligation, or an offer of such performance, duly made as provided in this Code, exonerates a surety. SOURCE: CC § 2839.

18 GCA § 32205 Creditors' Acts Discharging Surety

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A surety is exonerated -- 1. In like manner with a guarantor; 2. To the extent to which he is prejudiced by any act of the creditor which would naturally prove injurious to the remedies of the surety or inconsistent with his rights, or which lessens his security; or, 3. To the ex…

18 GCA § 32301 Rights Same as Guarantor

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A surety has all the rights of a guarantor, whether he becomes person- ally responsible or not. SOURCE: CC § 2844.

18 GCA § 32302 Surety may Demand Proceedings Against Principal

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A surety may require his creditor to proceed against his principal, or to pursue any other remedy in his power which the surety cannot himself pursue, and which would lighten his burden; and if in such case the creditor neglects to do so, the surety is exonerated to the extent to…

18 GCA § 32303 Principal to Perform Obligations When Due

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A surety may compel his principal to perform the obligation when due. SOURCE: CC § 2846.

18 GCA § 32304 Principal Liable to Surety

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If a surety satisfied the principal obligation, or any part thereof, whether with or without legal proceedings, the principal is bound to reimburse what he has disbursed, including necessary costs and expenses; but the surety has no claim for reimbursement against other persons, …

18 GCA § 32305 Surety Same as Creditor

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A surety, upon satisfying the obligation of the principal, is entitled to enforce every remedy which the creditor then has against the principal to the extent of reimbursing what he has expended, and also to require all his co-sureties to contribute thereto, without regard to the…

18 GCA § 32306 Surety Entitled to Benefits of Securities held by Creditors

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A surety is entitled to the benefit of every security for the performance of the principal obligation held by the creditor, or by a co-surety at the time of entering into the contract of suretyship, or acquired by him afterwards, whether the surety was aware of the security or no…

18 GCA § 32307 Principal's Property Taken First

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Whenever property of a surety is hypothecated with property of the principal, the surety is entitled to have the property of the principal first applied to the discharge of the obligation. SOURCE: CC § 2850. NOTE: No 1970 Civil Code '§ 2851-2853 existed. ---------- ARTICLE 4 RIGH…

18 GCA § 32401 Creditor Entitled to Surety's Securities

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A creditor is entitled to the benefit of everything which a surety has received from the debtor by way of security for the performance of the obligation, and may, upon the maturity of the obligation, compel the application of such security to its satisfaction. SOURCE: CC § 2854. …