(a) a sale of goods, services or an interest in land is made and in which credit is granted by a seller who regularly engages in credit transactions as a seller;

(b) the buyer is a person other than an organization; and
(c) the goods, services or interest in land are purchased primarily for a personal, family, household or agricultural purpose.

(2) Consumer credit sale does not include:
(a) a sale in which the seller allows the buyer to purchase goods or services pursuant to a credit card or similar arrangement; or
(b) a sale of an interest in land if the credit service charge, however calculated, does not exceed ten percent (10%) per year calculated on the unpaid balances of the amount financed according to the United States rule. For the purpose of calculating the rate of the credit service charge, non-periodic charges made at the inception of the sale which are included in the credit service charge shall be

COL120106
14 Guam Code Ann. UNIFORM CONSUMER CREDIT CODE
CH. 2 CREDIT SALES

amortized over the term of the sale agreement notwithstanding that the debt is paid prior to the end of the agreed term and charges for the privilege of prepaying the debt shall not be included in the credit service charge.

§ 2105. Same: Goods; Merchandise Certificate; Services; Sale of
Goods; Sale of Services; Sale of an Interest in Land; Precomputed.
(1) Goods include goods not yet in existence at the time the transaction is entered into and merchandise certificates, but excludes money, chattel paper, documents of title and instruments.

(2) Merchandise certificate means a writing issued by a seller not redeemable in cash and to be used in its face amount in lieu of cash in exchange for goods for services.

(3) Services includes (a) work, labor and other personal services, and (b) privileges with respect to transportation, hotel and restaurant accommodations, education, entertainment, recreation, physical culture, hospital accommodations, funerals, cemetery accommodations, and the like. Service does not include insurance.

(4) Sale of goods includes a bailment or lease of goods which is intended as a means whereby the bailee or lessee will ultimately become the owner of the goods. A bailment or lease under which the bailee or lessee has the privilege to purchase or retain the goods for no additional consideration or for a nominal consideration is one so intended but a sale on approval is not.

(5) Sale of services means furnishing or agreeing to furnish services and includes making arrangements to have services furnished by another.
(6) Sale of an interest in land includes a lease in which the lessee has an option to purchase an interest in land and the rental or other payments previously made by him are applied in a substantial part to the purchase price.

(7) A sale, refinancing or consolidation is precomputed if the debt is expressed as a sum comprising the amount financed and the amount of the credit service charge computed in advance.