(1) This Title applies to sales, leases and loans made in Guam and to refinancings, consolidations and deferrals, made in Guam, of sales, leases and loans, wherever made. For purposes of this Title:

(a) a sale or modification of a sale agreement is made in Guam if the buyer’s agreement or offer to purchase or to modify is received by the seller or his representative in Guam;

(b) a lease or modification of a sale agreement is made in Guam if the lessee’s agreement or offer to lease or to modify is received by the lessor or his representative in Guam; and

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(c) a loan or modification of a loan agreement is made in Guam if the writing signed by the debtor evidencing the debt is received by the lender or his representative in Guam.

(2) With respect to sales made pursuant to a revolving charge account (§ 2108), this Title applies if the buyer’s communication, whether written or oral, of his intention to enter into a revolving charge account with the seller is received by the seller or his representative in Guam. If no communication of intention is given by the buyer, this Title applies if the seller gives the buyer the privilege of using a revolving charge account and the seller’s communication notifying the buyer of this privilege is received in Guam.
(3) With respect to loans made pursuant to a credit card or similar arrangement (§ 1301(6)), this Title applies if the debtor’s communication, whether written or oral, of the intention to enter into a credit card or similar arrangement with the lender is received by the lender or his representative in Guam. If no communication of intention is given by the debtor, this Title applies if the lender gives the debtor the privilege of using a credit card or similar arrangement and the lender’s communication notifying the debtor of this privilege is received by the debtor in Guam.

(4) The Article on Limitations on Creditor’s Remedies (Article 1) of Chapter 5 (Remedies and Penalties) applies to actions or other proceedings brought in Guam to enforce rights arising out of sales, leases, or loans, wherever made.

(5) If actions or other proceedings are brought in Guam to enforce rights arising out of sales, leases, loans or modifications thereof, wherever made, to a person who was a resident of Guam when the sale, lease, loan or modification was made the following provisions apply as though the sale, lease, loan or modification had been made in Guam:

(a) a seller, lessor, lender, or transferee of his rights, may not collect charges through actions or other proceedings in excess of those permitted by Chapter 2 (Credit Sales) or by Chapter 3 (Loans); and

(b) a seller, lessor, lender or transferee of his rights, may not enforce rights against the buyer, lessee or debtor, under agreements in violation of the provisions on Contract Limitations (Article 4) of Chapter 2 (Sales) or Chapter 3 (Loans).

(6) Except as provided in subsection (4), a sale, lease, loan or modification thereof, made in another state to a person who was not a

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resident of Guam at the time the sale, lease, loan or modification was made is valid and enforceable in Guam according to its terms, unless it was made in violation of the laws of the state or territory applicable to the transaction.

(7) For the purposes of this Title, the residence of a buyer, lessee, or debtor, is the address given by him as his residence in any writing signed by him in connection with a credit transaction. Until and unless he notifies the creditor of a new or different address, his address is presumed to be unchanged.
(8) With respect to sales, leases, loans or modifications thereof, to which this Title applies, the following agreements by a buyer, lessee or debtor are invalid:

(a) that the law of another territory or state shall apply; and

(b) that the buyer, lessee or debtor consents to the jurisdiction of another territory or state.

(9) The following provisions of this Title specify the applicable law governing certain cases:
(a) Applicability of the Article on Powers and Functions of the
Administrator (Article 1) of Chapter 6 (Administration), § 6101.

(b) Applicability of the Article on Notification and Fees (Article
2) of Chapter 6 (Administration), § 6201.

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ARTICLE 3
GENERAL DEFINITIONS