14 Guam Code Ann. § 2403
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Terms Used In 14 Guam Code Ann. § 2403
- 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.
- 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.
a consumer credit sale or consumer lease other than a sale or lease primarily for an agricultural purpose, the seller or lessor may not take a negotiable promissory note payable in installments as evidence of the obligation of the buyer or lessee. A promissory note negotiable in form issued in violation of this section may be enforced as a negotiable instrument by a holder in due course according to its terms. The holder in due course is not subject to the liabilities set forth in the provisions on the effect of violations on the rights of parties (§ 5201) and the provisions on civil actions by Administrator (§ 6113).