Title 18 — Business Structure and Function

A loan of money is a contract by which one delivers a sum of money to another, and the latter agrees to return at a future time a sum equivalent to that which he borrowed. A loan for mere use is governed by Chapter 45, Loan for Use. SOURCE: CC § 1912.

A borrower of money, unless there is an express contract to the contrary, must pay the amount due in such money as is current at the time when the loan becomes due, whether such money is worth more or less than the actual money lent. SOURCE: CC § 1913.

Whenever a loan of money is made, it is presumed to be made upon interest, unless it is otherwise expressly stipulated at the time in writing. SOURCE: CC § 1914.

Interest is the compensation allowed by law or fixed by the parties for the use, or forbearance, or detention of money. SOURCE: CC § 1915.

COL120106 When a rate of interest is prescribed by a law or contract, without specifying the period of time by which such rate is to be calculated, it is to be deemed an annual rate. SOURCE: CC § 1916.

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 a…

Lender. (a) A license to lend money may be granted only to a bona fide resident of the Territory of Guam. Written applications for licenses must be submit- ted to the Director of Revenue & Taxation, stating name, nationality, place of residence and of proposed business, age, prev…

The provisions of this Chapter shall not apply to licensed pawnbrokers, as provided for in Title L of the Government Code commencing with '50001, as amended. SOURCE: CC § 1924a. With the repeal of the Penal Code, regulation of Pawnbrokers was placed in the Government Code by P.L.…