Terms Used In 13 Guam Code Ann. § 9104

  • Contract: A legal written agreement that becomes binding when signed.
  • 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
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Statute: A law passed by a legislature.
  • Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
is division does not apply:
(a) To a security interest subject to any statute of the United States to the extent that such statute governs the rights of parties to and third parties affected by transactions in particular types of property; or
(b) To a lien given by statute or other rule of law for services or materials except as provided in Section 9310 on priority of such liens; or

(c) To a transfer of a claim for wages, salary or other compensation of an employee; or

(d) To a transfer, including creation of a security interest, by a government or governmental subdivision or agency; or

(e) To a sale of accounts or chattel paper as part of a sale of the business out of which they arose, or an assignment of accounts or chattel paper which is for the purpose of collection only, or a transfer of a right to payment under a contract to an assignee who is also to do the

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

performance under the contract or a transfer of a single account to an assignee in whole or partial satisfaction of a preexisting indebtedness; or
(f) To any loan made by an insurance company pursuant to the provisions of a policy or contract issued by it and upon the sole security of such policy or contract; or
(g) To a right represented by a judgment (other than a judgment taken in a right to payment which was collateral); or
(h) To any right of setoff; or

(i) To the creation or transfer of an interest in or lien on real estate, including a lease or rents thereunder and to any interest of a lessor and lessee in any such lease or rents; or

(j) To a transfer in whole or in part of any claim arising out of tort.

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