§ 2102 Scope
§ 2103 Index of Definitions
§ 2104 Definition: Consumer Credit Sale
§ 2106 Same: Consumer Lease
§ 2107 Same: Transferee
§ 2108 Same: Revolving Charge Account
§ 2109 Same: Credit Service Charge
§ 2110 Same: Cash Price
§ 2111 Same: Amount Financed
§ 2211 Filed Rates Excluded
§ 2202 Additional Charges
§ 2203 Delinquency Charges
§ 2204 Deferral Charges
§ 2205 Credit Service Charge: Refinancing
§ 2206 Same: Consolidation
§ 2207 Same: Revolving Charge Accounts
§ 2208 Advances to perform Covenants of Buyer
§ 2209 Right to Prepay
§ 2210 Rebate Upon Prepayment
§ 2211 v2 Filed Rates Excluded
§ 2401 Exclusions
§ 2402 Use of Multiple Agreements to Obtain Higher Rate
§ 2403 Negotiable Promissory Notes Prohibited
§ 2404 Transferee Not Subject to Defenses Against Seller if Proper\r\nNotice Of Transfer Given to Buyer
§ 2405 Balloon Payments
§ 2406 Restriction on Liability in Consumer Lease
§ 2407 Restriction on Security in Sales or Leases
§ 2408 Cross-Collateral
§ 2409 Debt Secured by Cross-Collateral
§ 2410 No Assignment of Earnings
§ 2411 Referral Sales
§ 2412 Notice of Transfer
§ 2413 Attorneys\’ Fees
§ 2414 Limitation on Default Charges
§ 2415 Confession of Judgment
§ 2601 Sales Subject to Act by Agreement of Parties
§ 2602 Service Charge for Certain Sales to Individuals
§ 2603 Applicability of Other Provisions
§ 2604 Limitation on Default Charges
§ 2605 Credit Service Charge for Other Sales
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Terms Used In Guam Code > Title 14 > Chapter 2 - Credit Sales

  • Annual percentage rate: The cost of credit at a yearly rate. It is calculated in a standard way, taking the average compound interest rate over the term of the loan so borrowers can compare loans. Lenders are required by law to disclose a card account's APR. Source: FDIC
  • Contract: A legal written agreement that becomes binding when signed.
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Personal property: All property that is not real property.
  • Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.