18 Guam Code Ann. § 47106
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Terms Used In 18 Guam Code Ann. § 47106
- Contract: A legal written agreement that becomes binding when signed.
- Forbearance: A means of handling a delinquent loan. A
The rate of interest upon the loan or forbearance of any money, goods or things in action, or on accounts after demand or judgment rendered in any court of the territory, shall be six percent (6%) per annum but it shall be competent for the parties to any loan or forbearance of any money, goods or things in action to contract in writing for a rate of interest not exceeding the rates of interest specified in Title 14 of this Code.
SOURCE: CC § 1916a added by P.L. 3-44, (2/3/56).
NOTE: Former Civil Code ‘1917 was repealed by P.L. 13-187:14 because rates of interest are now governed by the Uniform Consumer Credit Code, Title 14 of this
Code. CC § 1916a referred to ‘1917 of the Civil Code.