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Library Liens in General - Chapter 35 of Title 18 GCA “Business Structure and Function”.

Liens in General - Chapter 35 of Title 18 GCA “Business Structure and Function”.

Liens in General - Chapter 35 of Title 18 GCA “Business Structure and Function”.

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LEX-FAOC054427
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This Chapter provides in general for matters relating to liens: definition of liens; creation of liens; effect of liens; priority of liens; redemption from liens; and extinction of liens. A lien is a charge imposed in some mode other than by a transfer in trust upon specific property by which it is made security for the performance of an act, e.g. mortgages. A general lien is one which the holder thereof is entitled to enforce as a security for the performance of all the obligations, or all of a particular class of obligations, which exist in his favour against the owner of the property. A special lien is one which the holder thereof can enforce only as security for the performance of a particular act or obligation, and of such obligations as may be incidental thereto. A lien is created by agreement of the parties or by operation of law.

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Guam Compiler of Laws

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