(a) Account debtor means the person who is obligated on an account, chattel paper or general intangible;

(b) Chattel paper means a writing or writings which evidence both a monetary obligation and a security interest in or a lease of specific goods, but a charter or other contract involving the use or hire of a vessel is not chattel paper. When a transaction is evidenced both by such a security agreement or a lease and by an instrument or a series of instruments, the group of writings taken together consti- tutes chattel paper;

(c) Collateral means the property subject to a security interest, and includes accounts, and chattel paper which have been sold;

(d) Debtor means the person who owes payment or other performance of the obligation secured, whether or not he owns or has rights in the collateral, and includes the seller of accounts or chattel paper. Where the debtor and the owner of the collateral are
not the same person, the term Adebtor@ means the owner of the
collateral in any provision of the division dealing with the collateral, the obligor in any provision dealing with the obligation, and may
include both where the context so requires;

(e) Deposit account means a demand, time, savings, passbook or like account maintained with a bank, savings and loan

COL070307
13 Guam Code Ann. UNIFORM COMMERCIAL CODE
DIV. 9 SECURED TRANSACTIONS; SALES OF ACCOUNTS AND CHATTEL PAPER

association, credit union or like organization, other than an account evidenced by a negotiable certificate of deposit;
(f) Document means document of title as defined in the general definitions of Division 1 (Section 1201), and a receipt of the kind described in subdivision (2) of Section 7201;
(g) Encumbrance includes real estate mortgages and other liens on real estate and all other rights in real estate that are not ownership interests;
(h) Goods includes all things which are movable at the time the security interest attaches or which are fixtures (other than goods incorporated into a structure in the manner of lumber, bricks, tile, cement, glass, metalwork and the like unless the structure remains personal property under applicable law), but does not include money, documents, instruments, accounts, chattel paper, general intangibles or minerals or the like (including oil and gas) before extraction. Goods also includes standing timber which is to be cut and removed under a conveyance or contract for sale, the unborn young of animals, and growing crops;

(i) Instrument means a negotiable instrument (defined in Section 3104), or a security (defined in Section 8102) or any other writing which evidences a right to the payment of money and is not itself a security agreement or lease and is of a type which is in ordinary course of business transferred by delivery with any necessary indorsement or assignment;
(j) Mortgage means a consensual interest created by a real estate mortgage, a trust deed on real estate, or the like;
(k) An advance is made pursuant to commitment if the secured party has bound himself to make it, whether or not a subsequent event of default or other event not within his control has relieved or may relieve him from his obligation;

(l) Security agreement means an agreement which creates or provides for a security interest;
(m) Secured party means a lender, seller or other person in whose favor there is a security interest, including a person to whom accounts or chattel paper have been sold. When the holders of obligations issued under an indenture of trust, equipment trust

COL070307
13 Guam Code Ann. UNIFORM COMMERCIAL CODE
DIV. 9 SECURED TRANSACTIONS; SALES OF ACCOUNTS AND CHATTEL PAPER

agreement or the like are represented by a trustee or other person, the representative is the secured party.
(n) Transmitting utility means any person primarily engaged in the railroad, street railway or trolley bus business, the electric or electronics communications transmission business, the transmission of goods by pipeline, or the transmission or the production and transmission of electricity, steam, gas or water, or the provision of sewer service.
(o) New value includes new advances or loans made, or new obligations incurred, or the release of a valid and existing security interest, or the release of a claim to proceeds; but new value shall not be construed to include extension or renewals of existing obligations of the debtor, nor obligations substituted for such existing obligations.
(2) Other definitions applying to this division and the sections in which they appear are:

Account. Section 9106.
Attach. Section 9203.

Consumer goods. Section 9109(1). Construction mortgage. Section 9313(1). Equipment. Section 9109(2).
Farm products. Section 9109(3). General intangibles. Section 9106. Inventory. Section 9109(4).
Lien creditor. Section 9301(3).
Proceeds. Section 9306(1).

Purchase money security interest. Section 9107.

United States. Section 9103.
(3) The following definitions in other divisions apply to this division:
Check. Section 3104.

Contract for sale. Section 2106.

COL070307
13 Guam Code Ann. UNIFORM COMMERCIAL CODE
DIV. 9 SECURED TRANSACTIONS; SALES OF ACCOUNTS AND CHATTEL PAPER

Holder in due course. Section 3302.

Note. Section 3104.
Sale. Section 2106.

(4) In addition Division 1 contains general definitions and principles of construction and interpretation applicable throughout this division.