Chapter 86

COL12010618GCA BUSINESS STRUCTURE &FUNCTION CH.86 MANNER OF CREA TING CONT RACTS 1CHAPTER 86 MANNER OF CREA TING CONTRACTS § 86101. Contracts: Express or Implied. § 86102. What is an Express Contract. § 86103. What is an Implied Contract. § 86104. What Contracts may be Oral. § 86105. Fraud: When Oral Contracts Enforced. § 86106. What Contracts Must be Written. § 86107. Effect of Written Contracts. § 86108. When Written Contracts Effective. § 86109. Provisions Applicable; Transfer of Real Property . § 86110. Corporate Seal; how Affixed. § 86111. Provisions Abolishing Seals made Ap plicable. § 86101. Contracts: Express or Implied . A contract is either express or implied. SOURCE: CC § 1619. § 86102. What is an Express Contract. An express contract is one, the terms of which are stated in words. SOURCE: CC § 1620. § 86103. What is an Implied contract. An implied contract is one, the existence and terms of which are mani fested byconduct. SOURCE: CC § 1621. § 86104. What Contracts may be Oral. All contracts may be oral, except such as are spe cially required by statute to be in writing. SOURCE: CC § 1622. § 86105. Fraud: When Oral Contracts Enforced.

1. § 86104. What Contracts may be Oral. All contracts may be oral, except such as are spe cially required by statute to be in writing. SOURCE: CC § 1622. § 86105. Fraud: When Oral Contracts Enforced. Where a contract, which is required by law to be in writing, is prevented from being put in writing by the fraud of a party thereto, any COL12010618GCA BUSINESS STRUCTURE &FUNCTION CH.86 MANNER OF CREA TING CONT RACTS 2other party is by such fraud led to bel ieve that it is in writing, and acts upon such belief to his prejudice, may enforce it against the fraudu lent party . SOURCE: CC § 1623. § 86106. What Contracts must be Written. The following contracts are invalid, unless the same, or some note or memor andum thereof, is in writing and sub scribed by the party to be charged, or by his agent: 1. An agreement that by its terms is not to be per formed within a year from the mak ing there of; 2. A special promise to answer for the debt, default, or miscarriag e of another; except for the cases provided for in '31203 of this Title [Promise to Answer for the Obliga tion of Another]; 3. An agreement made upon consideration of mar riage other than a mutual promise to marry; 4.

pt for the cases provided for in '31203 of this Title [Promise to Answer for the Obliga tion of Another]; 3. An agreement made upon consideration of mar riage other than a mutual promise to marry; 4. (Repealed) 5. An agreement for the l easing for a longer period than one year, or for the sale of real property , or of an interest therein; and such agreement, if made by an agent of the party sought to be charged, is invalid, unless the authority of the agent is in writ ing, sub scribed by the party sought to be charged; 6. An agreement authorizing or employing an agent or broker to purchase or sell real estate for com pensa tion or a commission; 7. An agreement which, by its terms, is not to be performed during the lifetime of the promisor ,or an agreement to devise or be - queath any proper ty; or to make any provi sion for any person by will. SOURCE: CC § 1624: Item (4) repealed by P .L. 13 -150:1 and replaced by appropriate parts of Title 13 of this Code (UCC). CROSS -REFERENCES: For the law relating to wills and estates of deceased persons and the passing of property after death, see Title 15 of this Code, Estates & Probate. COURT CASES: See J & G Co. v .

CROSS -REFERENCES: For the law relating to wills and estates of deceased persons and the passing of property after death, see Title 15 of this Code, Estates & Probate. COURT CASES: See J & G Co. v . Smith , 292 F .2d 815 (1961). § 86107. Effect of Written Contracts.COL12010618GCA BUSINESS STRUCTURE &FUNCTION CH.86 MANNER OF CREA TING CONT RACTS 3The execution of a con tract in writing, whether the law requires it to be written or not, supersedes all the negotiations or stipula tions concern ing its matter which preceded or accompa nied the execu tion of the instrument. SOURCE: CC § 1625. COURT CASES : T.S.S. Sportswear ,Ltd. v . Swank Shop, 380 F .2d 512 (CA 9 1967); Atoigue Gogo v . Cruz Ada, 128 F .Supp. 92 (D.C.Guam 1955); Cruz Flores v . Duenas , 318 F .2d 87 (CA9 1963). § 86108. When Written Contracts Effective. A contract in writing takes effect upon its delivery to the party in whose favor it is made, or his agent. SOURCE: CC § 1626. CROSS -REFERENCES: For the rules governing contracts with the Government of Guam, see 5 GCA Chapter 22, Article 6. § 86109. Provisions Applicable; T ransfer of Real Proper ty.

ent. SOURCE: CC § 1626. CROSS -REFERENCES: For the rules governing contracts with the Government of Guam, see 5 GCA Chapter 22, Article 6. § 86109. Provisions Applicable; T ransfer of Real Proper ty. The provisions of [[the Chapter on transfers in general, concerning the delivery of grants, absolute and conditional], apply to all written contracts. SOURCE: CC § 1627. § 86110. Corporate Seal; How Affixed. A corporate or official seal may be affixed to an instrumen t by a mere impression upon the paper or other material on which such instrument is written. SOURCE: CC § 1628. CROSS -REFERENCES: 1 GCA '710, same subject. § 86111. Provisions Abolishing Seals Made Appli cable. All distinctions between sealed and unseal ed instruments are abolished. SOURCE: CC § 1629. -----------COL12010618GCA BUSINESS STRUCTURE &FUNCTION CH.86 MANNER OF CREA TING CONT RACTS