Michigan Laws > Chapter 438 > Act 11 of 1869 – Interest On Due and Unpaid Interest
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| § 438.101 | Interest on due and unpaid interest; rate |
Terms Used In Michigan Laws > Chapter 438 > Act 11 of 1869 - Interest On Due and Unpaid Interest
- Contract: A legal written agreement that becomes binding when signed.
- Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
- Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
- judgment: as used in this act , includes decree. See Michigan Laws 600.112
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Plaintiff: The person who files the complaint in a civil lawsuit.