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Terms Used In 21 Guam Code Ann. § 70101

  • Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
  • Contract: A legal written agreement that becomes binding when signed.
  • Executor: A male person named in a will to carry out the decedent
  • Personal property: All property that is not real property.
  • Trustee: A person or institution holding and administering property in trust.
This Chapter shall not apply to:

(a) An officer or employee of the United States, the Territory or any political subdivision, if the project or operation is performed by employees thereof;

(b) Any person acting as a receiver, trustee in bankruptcy, administrator or executor, or any other person acting under any order or authorization of any court;

(c) A person who sells or installs any finished products, materials or articles or merchandise which are not actuallyfabricated into and do not become a permanent fixed part of the structure, or to the construction, alteration, improvement or repair of personal property;

(d) Any project or operation for which the aggregate contract price for labor, materials and all other items is less than Two Thousand Five Hundred Dollars ($2,500). This exemption shall not apply in any case wherein the undertaking is by a licensed contractor or is only part of a larger or major project or operation, whether undertaken by the same or a different contractor or in which a division of the project or operation is made in contracts of amounts less than Two Thousand Five Hundred Dollars ($2,500) for the purpose of evading this Chapter or otherwise;

(e) A registered architect or professional engineer acting
solely in a professional capacity;

(f) Any person who engages in the activities herein regulated as an employee with wages as sole compensation;

(g) Any person who undertakes either personally or through his or her employees, any project or operation for himself or herself; and

(h) Any co-partnership or joint venture if all members thereof hold licenses issued under this Chapter or if the person or persons who have direct management of the contracting business thereof hold a license for purposes of requiring additional contractor’s licenses for the copartnership or joint venture.