Title 22 — Business Regulation

For purposes of this Chapter: (a) The term advertisement means a commercial message in any medium that aids, promotes or assists, directly or indirectly, a rental- purchase agreement. (b) The term agricultural purpose includes: (1) the production, harvest, exhibition, marketing t…

(a) Rental-purchase agreements which comply with this Act are not governed by the laws relating to: (1) a sale of a home under the Guam Homeowners' Warranties Act; (2) a consumer credit sale under the Guam Uniform Commercial Credit Code in Title 14 of the Guam Code Annotated; and…

(a) In General. The merchant under a rental-purchase agreement shall disclose in a clear and conspicuous manner to the consumer the information required by §§ 57104, 57105 and 57106 of this Chapter. In an agreement involving more than one (1) merchant, only one (1) merchant is re…

For each rental-purchase agreement, the merchant shall disclose to the consumer, to the extent applicable, under the agreement the following: (a) the total amount of the first periodic payment and the total amount of advance payments, delivery charges, trade-in allowances, fees, …

Each item of property displayed or offered in connection with a rental- purchase agreement shall have stamped or affixed to the property a card, tag or label that clearly and conspicuously discloses only the following: (a) whether the property is new or used; (b) the price of the…

(a) In General. Each rental-purchase agreement shall: (1) provide a brief description of the rented property sufficient to identify the rented property to the consumer and merchant. (If a rental is for multiple items of property, a description of each item may be provided in a se…

A rental-purchase agreement or any document that the merchant requests the consumer to execute may not contain: (a) a confession of judgment; (b) a negotiable instrument; (c) a security interest or any other claim of a property interest in any goods, except those goods the use of…

A merchant shall provide the consumer a written receipt for each payment made by cash, check or money order, the date, the total number of rental payments made and the total number of payments necessary to acquire ownership of the property.

A renegotiation of a rental-purchase agreement is deemed to be a new agreement for purposes of this Chapter, requiring new disclosures under §§ 57104 and 57106. A renegotiation shall be considered to occur when an existing rental-purchase agreement is satisfied and replaced by a …

(a) Advertisements. If an advertisement for a rental-purchase agreement refers to, or states, the amount of any payment or the right to acquire ownership, the merchant that makes the advertisement shall also clearly and conspicuously state in the advertisement the following items…

(a) Liability Amount. Except as otherwise provided in this Chapter, a merchant who willfully violates this Chapter with respect to a consumer is liable to the consumer in an amount equal to the following: (1) in an action by an individual consumer, the sum of: (A) actual damages …

A merchant is not liable: COL120106 (a) for any violation of the requirements of this Chapter if within sixty (60) days after discovering the violation, and before an action is filed against a merchant or written notice of the violation is received from the consumer, the merchant…

(a) Assignees. For purposes of §§ 57111 and 57112 and this Section, the term >merchant= includes an assignee of a merchant. However, an action under § 57111 for a violation of this Chapter may be brought against an assignee only if the violation is apparent on the face of the ren…

No civil liability or criminal penalty under this Chapter may be imposed on the United Sates or any of its departments or agencies, any territorial or political subdivision, or any agency of the territory or political subdivision. ---------- COL120106 COL120106