§ 9112 Where Collateral Is Not Owned by Debtor
§ 9101 Short Title
§ 9102 Policy and Scope of Division
§ 9104 Transactions Excluded from Division
§ 9105 Definitions and Index of Definitions
§ 9106 Definitions: Account; General Intangibles
§ 9107 Definitions: Purchase Money Security Interest
§ 9108 When After-Acquired Collateral Not Security for Antecedent\r\nDebt
§ 9109 Classification of Goods; Consumer Goods; Equipment; Farm\r\nProducts; Inventory
§ 9110 Sufficiency of Description
§ 9111 Applicability of Bulk Transfer Laws
§ 9112 v2 Where Collateral Is Not Owned by Debtor
§ 9113 Security Interests Arising Under Division on Sales
§ 9114 Consignment
§ 9201 General Validity of Security Agreement
§ 9202 Title to Collateral Immaterial
§ 9204 After-Acquired Property; Future Advances
§ 9207 Rights and Duties When Collateral Is in Secured Party\’s\r\nPossession
§ 9208 Request for Statement of Account or List of Collateral
§ 9301 Persons Who Take Priority over Unperfected Security Interests;\r\nALien Creditor@
§ 9318 Defenses Against Assignee; Modification of Contract After Notification of Assignment; Term Prohibiting Assignment Ineffective; Identification and Proof of Assignment
§ 9304 Perfection of Security Interest in Instruments, Documents, and Goods Covered by Documents; Perfection by Permissive Filing; Temporary Perfection Without Filing or Transfer of Possession
§ 9305 When Possession by Secured Party Perfects Security Interest\r\nWithout Filing
§ 9307 Protection of Buyers of Goods
§ 9308 Purchase of Chattel Paper and Instruments; Priorities
§ 9309 Protection of Purchasers of Instruments and Documents
§ 9310 Priority of Certain Liens Arising by Operation of Law
§ 9311 Alienability of Debtor\’s Rights: Judicial Process
§ 9312 Priorities Among Conflicting Security Interests in the Same\r\nCollateral
§ 9314 Accessions
§ 9315 Priority When Goods are Commingled or Processed
§ 9316 Priority Subject to Subordination
§ 9317 Secured Party not Obligated on Contract of Debtor
§ 9318 v2 Defenses Against Assignee; Modification of Contract After Notification of Assignment; Term Prohibiting Assignment Ineffective; Identification and Proof of Assignment
§ 9402 Formal Requisites of Financing Statement; Amendments; Mortgage as Financing Statement
§ 9401 Place of Filing
§ 9403 What Constitutes Filing; Duration of Filing; Effect of Lapsed\r\nFiling; Duties of Filing Officer
§ 9404 Termination Statement
§ 9405 Release of Security Interest; Duties of Filing Officer; Fees
§ 9406 Assignment or Transfer of Security Interest; Duties of Filing\r\nOfficer; Fees; Statement of Assignment
§ 9407 Information from Filing Officer
§ 9407.1 Recording on Microfilm
§ 9407.2 Consecutive File Numbers
§ 9407.3 Originals Returned
§ 9408 Financing Statement by Consignor–Terms
§ 9501 Default; Procedure When Security Agreement Covers both\r\nReal and Personal Property
§ 9502 Collection Rights of Secured Party
§ 9503 Secured Party\’s Right to Take Possession After Default
§ 9504 Secured Party\’s Right to Dispose of Collateral After Default; Effect of Disposition
§ 9506 Debtor\’s Right to Redeem Collateral
§ 9507 Secured Party\’s Liability for Failure to Comply with This\r\nChapter
§ 9508 Renunciation by Debtor–Basis of Validity

Terms Used In Guam Code > Title 13 > Division 9 - Secured Transactions; Sales of Accounts and Chattel Paper

  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
  • Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
  • Contract: A legal written agreement that becomes binding when signed.
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Decedent: A deceased person.
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • 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.
  • Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
  • Garnishment: Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtor
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • 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.
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • 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.
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Personal property: All property that is not real property.
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. Source: FDIC
  • Service of process: The service of writs or summonses to the appropriate party.
  • 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.
  • Trustee: A person or institution holding and administering property in trust.
  • Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. Source: OCC
  • Usury: Charging an illegally high interest rate on a loan. Source: OCC