Guam § 57109 - Renegotiations and Extensions.
Full text of Guam Guam Code Annotated § 57109 — Renegotiations and Extensions., with citation guidance and answers to common questions.
§ 57109. Renegotiations and Extensions.
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 new
agreement undertaken by the same merchant. Events such as the following
shall not be treated as renegotiations:
(a) the addition or return of property in a multiple-item agreement
or the substitution of property, if in either case the average payment
allocable to a payment period is not changed by more than twenty-five
percent (25%);
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(b) a deferral or extension of one (1) or more periodic payments,
or portions of a periodic payment;
(c) a reduction in charges in the agreement; or
(d) an agreement involving a court proceeding.
Frequently Asked Questions About Guam § 57109
What does Guam Code Annotated § 57109 cover?
Section 57109 ("Renegotiations and Extensions.") 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 § 57109?
A common citation format is "Guam Code Annotated § 57109" (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 § 57109 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.