Guam § 56304 - Liability, Guaranty Commission.
Full text of Guam Guam Code Annotated § 56304 — Liability, Guaranty Commission., with citation guidance and answers to common questions.
§ 56304. Liability, Guaranty Commission.
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.
Frequently Asked Questions About Guam § 56304
What does Guam Code Annotated § 56304 cover?
Section 56304 ("Liability, Guaranty Commission.") is part of the Guam Code Annotated, the codified statutory law of Guam. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Guam § 56304?
A common citation format is "Guam Code Annotated § 56304" (Guam). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Guam law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Guam official source linked on this page or consult a licensed Guam attorney.
How does Guam § 56304 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Guam can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Guam.