Michigan Laws 286.257 – Liability of agent
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Terms Used In Michigan Laws 286.257
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- person: may extend and be applied to bodies politic and corporate, as well as to individuals. See Michigan Laws 8.3l
In construing and enforcing provisions of this act, the act, omission or failure of any official, agent, or other person acting for, or employed by, any association, partnership or corporation within the scope of his employment or office, shall in every case also be deemed the act, omission or failure of such association, partnership or corporation, as well as of the person.