18 GCA § 56304

Liability, Guaranty Commission

Guam Code AnnotatedTitle 18 — Business Structure and Function

A factor who charges his principal with a guaranty commission upon a sale thereby assumes absolutely to pay the price when it falls due, as if it were a debt of his own, and not as a mere guarantor for the purchaser; but he does not thereby assume any additional responsibility for the safety of his remittance of the proceeds.

Reconstructed from the Guam Code Annotated. For the authoritative version, see the official PDF.