Guam § 57101 - Definitions.

§ 57101. Definitions.

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

transformation, processing or manufacture of agricultural

products by a natural person who cultivates plants or propagates

or nurtures agricultural products; and

(2) the acquisition of farmlands, real property with a farm

residence, or personal property and services used primarily in

farming.

(c) A term or clause is clear and conspicuous when it is so written

that a reasonable person against whom it is to operate ought to have

noticed it. A printed heading in capitals is conspicuous. Language in

the body of a form is conspicuous if it is in a larger or other contrasting

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type or color. Whether a term or clause is clear and conspicuous is for

decision by the court.

(d) The term consumer means a natural person who leases or rents

personal property pursuant to a rental purchase agreement.

(e) The term date of consummation means the date on which a

consumer becomes contractually obligated under a rental-purchase

agreement.

(f) The term merchant means a person who regularly provides the

use of property through a rental-purchase agreement in the ordinary

course of business and to whom a consumer's initial obligation under

the agreement is payable.

(g) The term personal property means property that is not real

property under the laws of the state where the property is located when

it is offered or made available under a rental-purchase agreement,

unless otherwise stated.

(h) The term rental-purchase agreement means:

(a) a contract between a consumer and a merchant:

(i) under which the merchant agrees to provide the

consumer the use of the personal property for an initial

period of four (4) months or less;

(ii) that is automatically renewable with each payment

by the consumer; and

(iii) that permits, but does not obligate, the consumer to

become the owner of the property.