Terms Used In Michigan Laws 333.26506

  • Contract: A legal written agreement that becomes binding when signed.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Resident: means an individual leasing and residing in a housing-with-services establishment. See Michigan Laws 333.26502
   A contract executed in violation of this act is voidable at the option of the resident. The provisions of this section shall not be used as a means to avoid a resident’s payment obligation if the contract is not executed in violation of this act.