Guam § 2405 - Balloon Payments.
Full text of Guam Guam Code Annotated § 2405 — Balloon Payments., with citation guidance and answers to common questions.
§ 2405. Balloon Payments.
With respect to a consumer credit sale, other than one primarily for
an agricultural purpose or one pursuant to a revolving charge account, if
any payment, other than the first, is more than twice as large as the
average of the other payments, the buyer has the right to refinance the
amount of that payment at the time it is due without penalty or other
charge. The terms of the refinancing shall be no less favorable to the
buyer than the terms of the original sale. This limitation does not apply to
the extent that the schedule of payments is adjusted to the seasonal or
irregular income of the buyer.
Frequently Asked Questions About Guam § 2405
What does Guam Code Annotated § 2405 cover?
Section 2405 ("Balloon Payments.") is part of the Guam Code Annotated, the codified statutory law of Guam. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Guam § 2405?
A common citation format is "Guam Code Annotated § 2405" (Guam). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Guam law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Guam official source linked on this page or consult a licensed Guam attorney.
How does Guam § 2405 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Guam can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Guam.